Retail rents are on the rise in choice cities

05/26/2010 | Bloomberg

Prime U.S. shopping areas are seeing rents rise on retail spaces, a fact that likely illustrates a broader recovery, say some retail real estate experts. Rents in the country's most expensive shopping areas have increased between 10% and 15% since the end of 2009, with merchants willing to pay more for a presence on streets such as Rodeo Drive in Beverly Hills, Calif., and Michigan Avenue in Chicago.

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