Peter Braus of Lee & Associates, whose firm ranked ninth in Manhattan and fifth in Brooklyn, said there were not as many larger retailers hunting for space as there were a few years ago. But he said smaller tenants have become more active.
Many landlords, he said, spent years bundling together smaller retail parcels to create larger retail spaces but have since reversed course. They’ve started breaking those larger parcels into smaller ones.
(Illustration by Alex Nabaum via The Real Deal)