Times Square Landlords Seek Tenants With ‘Experience’

Wall Street Journal, Dec. 18, 2016–Morris Keiko

Times Square’s flashy retail scene is known for its hordes of tourists drawn to Broadway shows, mass-market shopping options and kitsch. But asking rents have plunged 18% as more shopping moves online. That has prompted landlords to seek out more “experiential retail,” such as food and entertainment venues, and more interactive elements in stores.