May
27th
Seattle retail rents reasonable on global scale
Retailers in downtown Seattle’s premier shopping street have little to complain about compared with their peers in other tony shopping district around the world.
A new study by global real estate firm Colliers International comparing retail space rents in well-known shopping districts in dozens of cities throughout the world, shows Seattle’s retail rents are on the reasonable end of the spectrum.
The study shows Seattle Fifth Avenue rents average $40 a square foot annually. That’s less than three percent of the rental rates on Fifth Avenue’s New York namesake, the most expensive retail street on the globe.
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