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The priciest retail corridor in the world—by a long shot
When it comes to retail rents, Manhattan’s Fifth Avenue is really in a class by itself.
Upper Fifth Avenue, between 49th and 60th streets, is the most expensive retail corridor in the world, with rents rising 3.6% to $3,500 per sq. ft. through the first half of this year, according to a annual report from Cushman & Wakefield. (The top 10 streets are listed at end of article.)
Fifth Avenue rent was nearly double that of the second priciest corridor, Causeway Bay in Hong Kong, at $2,399 per sq. ft.
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Report: Urban Outfitters’ restaurant acquisition not too pricey
Urban Outfitters Inc. will spend less than $20 million on its acquisition of Vetri Family Restaurant group, which owns the well-regarded Pizzeria Vetri chain, Bloomberg reported. The acquisition comes as consumers are spending more on “experiences” rather than clothing. “We believe that we do experiences really well and know our customer very well, and we have a lot of history in growing brands organically,” Urban Outfitters CFO Frank Conforti told Bloomberg.

