Rock Center operator Tishman Speyer has introduced a new retail real estate initiative it calls RC Capsule, a six-month leasing program for retailers.
Earlier this week, real estate researcher CoStar reported that sublease space in the second quarter reached 157 million square feet, or 1.7 per cent of the total office inventory. That’s also creating availability in retail spaces in urban centres like New York City, where Rockefeller Center is doing something about it.
The new six-month lease initiative is being introduced for retailers as the centre promotes “bringing together the best of retail, real estate and technology.” The aim by Tishman is to use available space to give omni-channel retailers the opportunity to test their concepts in one of the nation’s most highly trafficked urban retail districts – without the commitment of a long-term lease.
“Rockefeller Center is among the most coveted addresses in the world, and our dynamic mix of restaurants, fashion and lifestyle stores provides New Yorkers the best retail experience in Manhattan,” said EB Kelly, the property’s Managing Director.
