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5 Questions: The enduring appeal of luxury retail space
- February 1, 2025: Vol. 12, Number 2

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5 Questions: The enduring appeal of luxury retail space

by Mike Consol with Rich Johnson

Rich Johnson, a principal at Odyssey Retail Advisors, updates the state of the art.

What is luxury real estate?

In the retail world, luxury real estate focuses on creating spaces that align with a brand’s identity while offering a refined and immersive environment for customers — be it a flagship store on an iconic street, a tailor-made boutique in an exclusive shopping district, or a sophisticated mixed-use development.

How important are neighborhood trends in evaluating luxury real estate?

It’s vital, particularly in prime retail locations. As luxury tenants demand more sophisticated spaces, the quality and reputation of surrounding developments play a crucial role in attracting premium tenants. Neighborhoods that are slated for high-end retail or cultural developments become more desirable, as they signal future growth and exclusivity. Moreover, shifts in tenant preferences, such as opting for more affordable sid

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