Urban retail is on the rise in U.S. cities. Luxury brands and savvy investors are looking to secure prime locations in revitalized city centers, underscoring the investment potential of urban retail properties as they emerge as strong performers in the post-pandemic real estate landscape.
Driving the trend is the continued rise in physical office occupancy, ongoing strong consumer demand and spending, and the return of foreign tourists to U.S. cities.
Urban retail markets are showing signs of recovery and growth as city centers bounce back from the pandemic. According to the 10-city Back to Work Barometer, weekly average office occupancy has notched 61 percent, indicating a gradual return to the urban core. This trend is particularly evident in Los Angeles, which recently experienced its highest single day of occupancy since the pandemic began, with 69 percent on Nov. 13.
The urban retail sector is poised for a strong rebound as foot traffic in city centers incr
