The opening of Printemps at One Wall Street has generated buzz and optimism among retail brokers, as it is seen as a potential game-changer for a struggling retail sector in Lower Manhattan. Despite vacancies in areas like Broadway, Fulton, and Wall Street, experts believe that the 55,000 square-foot store and its five restaurants could attract a surge of foot traffic, encouraging other retailers to consider setting up nearby. There is hope for a retail revival in the area, with industry leaders confident about future leasing opportunities resulting from this high-profile opening.
Macklowe could not have done it better, agreeing that Printemps will draw the right foot traffic and inspire other retailers to set up nearby.
Broadway was adversely affected by the influx of major retail projects at Brookfield Place, the Oculus and the Seaport, impacting its ability to attract stores.
Retail brokers are optimistic about a Printemps spillover effect, with expectations rising for more big names and concepts to follow its lead to the neighborhood.
It's early to determine Printemps' full impact on leasing efforts, but it has already helped our negotiations for the former bank storefront across the street.
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