Forget Fifth Avenue and Beverley Hills — retailers can find just as good of a location in cheaper corridors today, a new report from commercial real estate firm Jones Lang LaSalle (JLL) has found.
“We know that sometimes retailers want that prime main-and-main location, but just don’t have the budget,” Naveen Jaggi, president of retail brokerage at JLL, said in a statement. “So, we’ve looked at nine core U.S. cities to find more affordable areas for retailer expansion.”
JLL’s first ever “City Retail” report highlights the top 10 U.S. shopping districts, calculated according to rent price per square foot. They all boast growing populations of working millennials, rising food scenes and a healthy mixture of up-and-coming retailers and traditional brands.
In descending order, here’s a look at how the top 10 stack up, including highlights from JLL’s report: