Retail Rocks Severely. Just Get Rid of the Food Trucks.

Newmark Grubb Knight Frank Retail executive vice president and principal Jeffrey Roseman gushes over the market in an article just posted at Real Estate Weekly, here.

But while he doesn't exactly balance it out, he finds some things he's unhappy about too.

On the plus side, Madison Avenue "as seen a rebirth of epic proportions." The Upper East and Upper West Sides are "enjoy[ing] a resurgence of activity as retailers are coming back in large numbers," with brand names galore.

And "we have seen SoHo expand south, Union Square expand west, and Times Square expand north.  . . . There are still so many retailers who are clamoring to get into the Square, so they have all begun scouring Broadway and 7th Avenue from 46th Street all the way to 57th Street."

But regulation is wrong.  It will hurt us. It is "a very dangerous emerging trend." It is not only the city, but also community boards.

Roseman's dire warning:

Obviously, the idea of government having a say on what retailers can go where, is just so wrong in many facets, not to mention dangerous. Part and parcel to this is the rising power Community Boards are starting to wield.

Of course, there is nothing wrong with a Community Board rallying against something in their neighborhood that will alter their quality of life such as night clubs or like establishments, but when they start dictating to what sort of retailers they want… or don’t want, I believe we are only asking for trouble.

Also on the author's not-happy-with list is food trucks.  "They don't pay rent," he writes. 

 "How can we let a truck park right in front of an establishment selling the same product but cheaper?" he asks, quickly providing the solution: "The City will have to figure out how to regulate this escalating trend better."

The full jeremiad is at the Real Estate Weekly link above.


Source: Real Estate Weekly, Jeffrey Roseman, Madison Avenue, retail, food trucks
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