2025年城市零售趨勢研究報(bào)告：奢侈品牌與體驗(yàn)消費(fèi)引領(lǐng)城市商業(yè)新潮流（英文版）-仲量聯(lián)行

CityRetail2025

Luxuryretailersandexperiential

conceptsembraceprimeurbancorridors

Research

U.S.&CanadaDecember2024

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CityRetail2025

Tableofcontents

01

Retailhubs

seeaninfluxofinternationalluxury

02

Experientialtenantstargetlocalcorridors

06

16

03

Fromtried-and-truediningto21

novelandunique

2

04

Coreurbancorridorsseenewredevelopment

05

Urbanretailinvestmentsurges

26

36

CityRetail2025

Introduction

Aprimeurbancorridorisanationallyrecognizedshoppingdistrict

distinguishedbyitsmixofhighstreet,nationalandinternationaltenants.Typicallynamedforthemostnotableretailstreetwithinthecorridor,theseshoppingdistrictshaveboundariesthatwerecarefullydrawntoincludethemostprominentretailspacesandoccurringandpotentialretailsprawl

withintheseareasoffocus.

Forthisreport,inadditiontodefiningprimeurbancorridorsinNorth

America,wehavealsoselectedemergingurbancorridorsthatareorganicallydevelopingintoprimedestinations.Thesecorridorsfeatureamixoflocal

retailersandrestaurantsalongwithagrowingpresenceofnationalbrands.

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Montreal

Sainte-CatherineStreet

Boston

NewburyStreetSeaportDistrict

Toronto

BloorStreet

QueenStreetWest

Philadelphia

WalnutStreetMarketEast

Chicago

MichiganAvenueGoldCoast

FultonMarket

SanFrancisco

UnionSquareFillmore

HayesValleyTheMarina

Washington,D.C.

MStreet

14thStreet

LosAngeles

BeverlyHillsTriangleMelrose

ThirdStreetPromenadeAbbotKinney

CityRetail2025

Vancouver

RobsonStreetWest4thStreet

NYC

FifthAvenue

MadisonAvenueTimesSquare

SoHo

UnionSquare

MeatpackingDistrict

Miami

LincolnRoadDesignDistrict

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Keyfindings

1

Wesurveyedmorethan30primeurbanretailcorridors,interviewedretailteamsin11majorU.S.andCanadianmarkets,andidentifiedmorethan380notablenewstoreopeningannouncementsinthepast12months,ofwhich

54percentwereapparelandaccessories,23percentdining,and9percentspecialty.

4

D.C.andPhiladelphialeadthewayinnewdiningopenings.Specialtydessertchainsareexpanding,whiledifferentdiningstylesareenteringmajorU.S.markets.Now,uniquediningexperiences

engageguestsandextendtheirtimeinretailareas.

2

PrimeurbanretailcorridorsacrossNorthAmericaareshiftingtowardvarietyandnon-traditionalconcepts.

Almosthalfofapparelisluxuryandluxurylite.

SoHoinNewYorkleadsasthemostactivecorridor,whileMadisonAvenueandtheBeverlyHillsTrianglemaintaintheirluxurystatuswhileembracingnew

concepts.

5

Coreprimeurbancorridorsareimprovinginfrastructuretoenhancetheshoppingexperiencethrough

pedestrianization,transitimprovements,andsportsentertainment.Whilehigh-payinginternationaltourismhasn’tyetreturned,mega-developmentsareelevatingtheappealofluxurycorridorsinMiamiandToronto.

3

Localanddomesticretailcorridorsaregaining

momentum.Benefitingfromstronglocaleconomiesandchangingconsumerhabits,D.C.'sGeorgetown,Philadelphia’sWalnutStreet,andBoston'sSeaportDistrictareattractinghigh-end,fitness,and

experientialconcepts.

6

NewinvestorinteresthasdrivenasurgeinU.S.urbanretailinvestment,withsalestransactionvolumesreaching$2.4billionandrepresentingafive-yearhigh.

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01

Retailhubsseeaninfluxofinternationalluxury

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SoHoinNewYorkCityremainsaprimeSoHohasalsoembracedfastfashion.

JapaneseclothingretailerGU?asisterbrandofUniqlo?openeditsfirstoverseasflagshipthis

September,offeringwomen'sandmen'sclothingontwofloors.H&MalsoreturnedtoSoHoinearly2024witha10,000-sqstore,introducinganew

conceptthatincludesashop-in-shopwithcuratedsecond-handpieces.

destinationfordiverseinternational

apparelandaccessoriesbrands

SoHosawthemosttenantactivityofanyprimeurbanretailcorridorinNorthAmerica,withthehighestnumberofopeningsofdiverseapparelandaccessoryconcepts,cementingitsstatusasapremierglobalshoppingdestination.

LeveragingSoHo’sbrandingandpost-

pandemicfootfallsurge,aninfluxofU.S.andinternationalconcepts?first-to-marketnames,streetwearlabels,andcontemporaryfashionbrandsalongsideluxuryandaccessibleluxuryretailers?havekeptvacancylowinthe

corridor.

U.K.retailershaveshownparticularinterestinSoHoastheirentrypointtotheU.S.orNew

Yorkmarket.Theseincludecontemporary

fashionVarley,luggagestoreAntler,and

,

eyewearsellerCubittsalsoexpandingretailers

suchascontemporaryfashionsellerMe&EMandeyewearbrandCutlerandGross.

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SoHoretailboomwelcomesdiversetrends

Trend

Brand

TypeofApparel/Accessories

Nationality

AdditionalInformation

Luxuryexpansion

Valentino

Luxuryfashion

Italian

ReturntoSoHowithnewconcept

Cartier

Luxuryjewelryandwatches

French

ThirdNYCstore

Frere

Luxuryfashion

American

Newstore,LVMHalum-led

Internationalbrands

enteringU.S.orNYCmarkets

AxelArigato

Contemporarysneakersandapparel

Swedish

FirstU.S.flagship

BaredFootwear

Footwear

Australian

FirstoutsideAustralia

Scotch&Soda

Contemporaryfashion

Dutch

FirstNYCstore

Chimi

Eyewear

Swedish

FirstU.S.Flagship

Britishbrandsexpansion

Varley

Activewear

British

FirstU.S.store

Cubitts

Eyewear

British

Firstinternationalstore

Antler

Luggage

British

FirstU.S.store

CutlerandGross

Luxuryeyewear

British

Relocated/expanded

Me+EM

Contemporarywomen'swear

British

SecondNYstore

Contemporaryfashiongrowth

Ba&sh

Contemporarywomen'swear

French

NorthAmericanflagship

Zimmermann

Luxurywomen'swear

Australian

Relocatedflagship

Jacquemus

Contemporaryfashion

French

FirstU.S.store

Streetwearandactivewearfocus

Kith

Streetwear

American

Firstwomen-exclusiveflagship

PurpleBrand

Streetwear

American

Firstphysicalstore

Arc'teryx

Technicalouterwear

Canadian

Largestflagshiptodate

Digitalnativesgoingphysical

Guizio

Contemporarywomen'swear

American

First-everflagship

Thuma

Homefurnishings

American

Firstphysicalflagship

PerfectMoment

Luxuryskiwear

British

Firstphysicalstore

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Internationalbrands

expandstrategically

Internationalretailers,especiallyfromtheU.K.,Australia,andJapan,haveleveragedkeyU.S.retailcorridorstoestablish

physicalstorestoachieveomnichannelsuccess,boostdirectsales,andcapitalizeontheU.S.'sresilientconsumerspending.

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Notableexpandingretailers

Europe

Retailer

Nationality

Corridor

Market

H&M

Swedish

NewburySt

Boston

SoHo

NewYork

MichiganAve

Chicago

Me+EM

British

MadisonAve

NewYork

SoHo

NewYork

Balenciaga

Spanish

SoHo

NewYork

OakSt

Chicago

Birkenstock

German

DesignDistict

Miami

NewburySt

Boston

IWCSchaffhausen

Swiss

MadisonAve

NewYork

NewburySt

Boston

Cartier

French

SoHo

NewYork

OakSt

Chicago

Adidas

German

Melrose

LosAngeles

RobsonSt

Vancouver

JDSports

British

WalnutSt

Philadelphia

ThirdStreetPromenade

LosAngeles

U.S.,Canada,andAustralia

Retailer

Nationality

Corridor

Market

AloYoga

American

NewburySt

Boston

WalnutSt

Philadelphia

MichiganAve

Chicago

Sainte-CatherineSt

Montréal

Vuori

American

Southport

Chicago

WalnutSt

Philadelphia

UnionSquare

NewYork

Arc'teryx

Canadian

SoHo

NewYork

Southport

Chicago

BloorSt

Toronto

Aritzia

Canadian

WalnutSt

Philadelphia

MichiganAve

Chicago

Aesop

Australian

FifthAvenue

NewYork

BeverlyHillsTriangle

LosAngeles

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openingonMadisonAvenue

beyondtraditionalconcepts,cementingitsstatusasthepremierdestinationforluxuryretail.Overthepast12months,MadisonAvenuehasbroughtinmoreluxuryconceptsthananyothercorridorinNorthAmerica.

Intunewithabroadeningperceptionofluxury,

MadisonAvenuehasrecentlywelcomednon-

traditionalluxuryconcepts,reflectingaconsumershifttowardmoresubtlepositioninganduniqueandspecializedproducts.Challengingtraditionalnotionsofluxurybyofferingfunctionalandstylishouterwear,ItalianluxuryouterwearHernoopeneditssecondstoreinNewYorkCitythisOctober,nearBalenciaga.

Still,establishedEuropeanluxurybrandscontinuetomaketheirmarks.ThisfallGiorgioArmani

ResidencesopenedonMadison,includingclothingonthegroundandsecondfloorsandlifestyle

homefurnishing(Armani/Casa)onthethird.

Madison

Avenue

innovatesbeyond

traditionalluxury

MadisonAvenueinNewYorkcontinuestoinnovateNon-traditionalluxurybrands

Brand

Category

Destree

Apparelandaccessories

Me+EM

Apparelandaccessories

Toteme

Apparelandaccessories

Herno

Outerwear

Serapian

Apparelandaccessories

Stubbs&Wootton

Footwear

Assouline

Booksandlifestyle

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Luxuryandhigh-endcorridorsondemandLuxuryandhigh-endcorridors

whereretailteamsreport

challengesfindingspace

openings,especiallyinprimemarketslikeNYC'sluxurycorridorsatFifthAvenue,SoHo,and

MadisonAvenue.Availabilityislow,oftenofferingonlyfunctionalobsolescenceinolderbuildings.

Expandingretailersfacechallengesfindingspaceindesirableareas,intensifyingcompetitionandfurtherpushinguprents.InLosAngeles,thisis

particularlyevidentinareassuchastheBeverlyHillsTriangle,Melrose,andThirdStreet

Promenade,aswellastrendiercorridorslike

SunsetBoulevardinSilverLake,VenturaBoulevardinStudioCity,andNorth

LarchmontBoulevard.

Retailspacescarcityhasbackloggedstore

Corridor

Market

FifthAve-Upper

NewYork

FifthAve-Lower

NewYork

Madison

NewYork

SoHo

NewYork

BeverlyHillsTriangle-RodeoDrive

LosAngeles

BeverlyHillsTriangle-NorthBeverly

LosAngeles

Melrose

LosAngeles

GoldCoast

Chicago

FillmoreStreet

SanFrancisco

NewburyStreet

Boston

WalnutStreet

Philadelphia

DesignDistrict

Miami

CityCenter

D.C.

Brickell

Miami

Georgetown

D.C.

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BeverlyHillsTrianglemixesnew

conceptswithtraditionalexpansions

LuxurycontinuestobethelargestcategorytoopenintheBeverlyHillsTriangle,withmanystorestakingatraditionalapproachtoretail.

However,mostnewopeningshavestoodoutwithuniquestoredesigns,marketingstrategies,oroverallconsumerengagement.

YoucanseethisshiftinnewRodeoDrivestoressuchashigh-endSwisswatchmakerMB&F,whichopenedahybridretailspacethatcombineselementsofaboutique,conceptstore,andgallery?emphasizinganexperience-based,ratherthanproduct-focused,consumerinteraction.

SaksFifthAvenueopenedanew130,000-sqspacethisFebruary

inthebuildingthatformerlyhousedBarneysNewYork.Thewomen'sstorefeaturesboutiquesforDior,Chanel,Gucci,andLouisVuitton,aswellas15privatesalons,representinga$52millioninvestment.

DespitetheabsenceofChinesetourists,formerlyamajorsourceofrevenueforluxurybrands,RodeoDrivehasprovenremarkablyresilient?shiftingtoastrongdomesticcustomerbaseanddiversifyingitsofferingstoattractawiderrangeofinternationalvisitors.

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Traditionalandnon-traditionalconceptsopeningintheBeverlyHillsTriangle

Brand

On/OffRodeo

Nationality

Category

Distinctiveapproach

MB&F

OnRodeo

Swiss

Jewelry

Hybridboutique/conceptstore/gallery

LaMaisonValmont

OnRodeo

Swiss

Cosmetic/beauty

WestCoastdebutofluxurycosmetics

MichaelKorsCollection

OnRodeo

American

Apparel&accessories

Newstoreconceptdebut

Givenchy

OnRodeo

French

Apparel&accessories

Historicbuildingoccupation

LoroPiana

OnRodeo

Italian

Apparel&accessories

Flagshipstoreexpansion

GuestinResidence

OffRodeo

American

Apparel&accessories

Celebrity-founded,cashmerefocus

Reformation

OffRodeo

American

Apparel&accessories

Sustainableclothingfocus

Seraphine

OffRodeo

British

Apparel&accessories

Fashionablematernitywear

Aesop

OffRodeo

Australian

Cosmetic/beauty

Luxurybeautybrandexpansion

SaksFifthAvenue

OffRodeo

American

Departmentstore

Traditionalluxuryretailexpansion

JustoffRodeo,GuestinResidence?GigiHadid'sbrandfocusedonhigh-endcashmereand

knitwearhasnotablesocialmedia

to127BritishSeraphine

?a

presence,

experience.Leveragingtheinfluenceofcelebritymothers-to-beandastronge-commerceplatformthatshipscountries,

creatingamorecasualandapproachableretail

makesmaternitywearfashionableanddesirable.

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Miami'sDesignDistrict

championsaspirationalluxury

LuxuryliteconceptsopeningintheDesignDistrict

Brand

Category

Positioning

Distinctiveapproach

CultGaia

Apparel&accessories

High-endcontemporary

Instagram-friendlydesigns,statementpieces

PatBo

Apparel&accessories

Contemporaryluxury

Vibrantprints,Brazilianflair

JamesPerse

Apparel&accessories

Casualluxury

Elevatedbasics,minimalistaesthetic

DionLee

Apparel&accessories

Designercontemporary

Architecturaldesigns,modernedge

CNCPTS(Concepts)

Footwear

Premiumstreetwear

Curatedsneakerandstreetwearcollections

IsaGrutman

Jewelry

Accessibleluxury

Influencer-founded,moderndesigns

complementit,oftenappealingtoayounger

andmoreaspirationalclienteleatanaccessiblepricepoint.

Miami'sDesignDistricthaswelcomedmorenewluxuryliteconceptsthananyothercorridorinNorthAmerica.

Emphasizingcreativity,accessibility,and

craftsmanship,luxuryliteconceptsdon'tseek

anon

TherecentopeningofCNCPTSandAlexanderWanginthecorridorpointtoemphasis

tocompetewithtraditionalluxurybutratherto

higher-endstreetwearconcepts.

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02

Experientialtenantstargetlocalcorridors

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WashingtonD.C.’sMStreetisoneofthemost

activeretailcorridorsinNorthAmerica,with

MStreetisatopcorridorfortenantactivity,

bringing

diversity

andlifestyle

dozensofnewopeningsthispastyear.Themixofopeningsincludesupscalefashion,homegoods,andlifestylebrands,wellness-orientedbusinesses,F&B,andnicheretailers.

ThereturnofBarnes&Nobleexemplifiesthe

strengthofthisdomesticcorridor.Thenew

30,000-sq,three-storylocationisintendedasacommunityhub,capitalizingonGenZ'srenewedinterestinphysicalbooks.

Whilenotaluxurydestination,MStreet'shistoricbuildings,charm,highfoottraffic,andproximitytouniversitiesmakeitanattractivehubforavarietyofretailers.Whilerentshavestabilizedrecently,

landlordsareinvestinginpropertyupgradestoattractmorehigh-profiletenants.

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Philadelphia'sWalnutStreetisevolvingintoaHigh-traffickedChestnutisanalternativeto

high-endWalnut

ChestnutStreet,asistercorridortwoblocksnorthofWalnutStreet,isexperiencingaspillovereffectasWalnutbecomesincreasinglytight.Chestnutalsobenefitsfrommorespaciousfloorplates.

Earlierthisyear,Puttshackopeneda26,000-sqlocationinTheShopsatLibertyPlace.

premierretaildestination,withhigh-endathleisurebrandsopeningalongsideupscalerestaurantsandwellnessfacilities,includinga37,000-s.fEquinox.

Philadelphia'sWalnutStreetseesaninfluxofhigh-end,fitness,andexperience

TheprimestretchfromBroadStreetto18thStreetisexperiencingincreaseddemand,withretail

expansionpushingeastwardasspacenear

RittenhouseSquarebecomeslimited.Thestreet'scharacter,definedbymansionsconvertedor

renovatedintoboutiquesandsmallerflagship

stores,createsauniqueshoppingexperiencethatblendshigh-endretailwithcommunity-orientedservicesinahistoricsetting.

Astrongtrendtowardhigh-endathleisureandapparelbrandsisevidentinnamessuchasAloYoga,Vuori,Reformation,andM.M.LaFleur.TheupcomingNikeMichaelJordan"WorldofFlight"storeandapotentialAritzialocationfurther

.

reinforcethistrend.AnewFlightClubDartslocationwillalsoaddasocialentertainmentoptiontothemix

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Boston’sSeaportDistrictattractsexperiential

TheSeaportDistricthasemergedasavibrantshopping

destinationthatblendsresidential,office,retail,andculturalspaces.Itattractsluxurybrands,casualrestaurants,major

entertainmentvenuesandconceptstores.ThisincludesF1Arcade,theMuseumofIceCream,andtheAlamoDrafthouse.

NewburyStreetandtheSeaportDistrict?Boston'sprimeretail

corridors?haveseenastrongrecovery,withnumerousnewstoreopeningsoverthepastyear.Limitedsupply,diverseconsumer

demandandthecity'sgeographicdensityhavepushedupretailrents.Boston'scompactmarket,withprimelocationsnearingfulloccupancy,leaveslittleroomforexpansion.

NewburyStreetcontinuestoattractluxuryandpremiumbrandssuchasIWCSchaffhausen,Panerai,LaLigne,andAnineBing.

ThisincludesinternationalnameslikeGanni(Denmark),BiologiqueRecherche(France),andNorrona(Norway).

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Notableexperientialconceptsopeninginprimecorridors

Name

Corridor

Market

Sizes.f.

OpeningDate

WhatMakesItUnique

F1Arcade

SeaportDistrict

Boston

16,000

Early2024

FirstU.S.locationofpremiumexperience,combiningracingfoodandbeverage

F1entertainmentsimulatorswith

MuseumofIceCream

SeaportDistrict

Boston

12,300

Dec2024

Experiential,Instagram-friendly"museum"centeredaroundicecream

NintendoSanFrancisco

UnionSquare

SanFrancisco

11,000

2025

SecondU.S.Nintendostore,bringinggamingbrandintophysicalretailspace

Puttshack

ChestnutStreet

Philadelphia

26,000

Jan2024

High-techminigolfcombinedwithfoodandbeverage

HarryPotterStore

MichiganAvenue

Chicago

12,300

Spring2025

SecondU.S.HarryPotterstore,

offeringimmersiveretailexperience

Hershey'sSuperSweetAdventure

MichiganAvenue

Chicago

27,200

Oct2024

Interactivecandy-themedexperience

CORE:NewYork

FifthAvenue

NewYork

66,000

Fullopeningin2024

Ultra-luxuriousprivategymwithmembershipsupto$100,000

Puttery

MeatpackingDistrict

NewYork

24,000

Early2024

Immersiveminigolf

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Fromtried-and-truediningtonovelandunique

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D.C.andPhiladelphialeadthewayinnewfoodand

beverageopeningsthisyear,withatrendtowarddiverse

localconceptsandexpansions.Openingsincludespecialtydessertshops,fast-casualconcepts,anduniquebar

D.C.and

PhiladelphialeadinnewF&Blocations

experiences.WhileD.C.'s14thStreetandPhilly'sMarketEastandWalnutStreetareseeingmorebars,taverns,andquickservice,D.C.'sMStreethostsmorefineandcasualdining.

Recentopeningsofbakeries,cookieshops,andicecream

parlorsindicateastrongdemandforartisanalbakedgoodsandpremiumdessertoptions.LevainBakery?aNewYork

Citybakeryknownforitsoversized,gooeycookies?madeitswaytoPhiladelphia'sRittenhouseSquarethisOctober.VanLeeuwenIceCream,alsofromNewYorkCity,recentlylandedinLoganCircle.

Uniquebarconceptsalsopromisetoattractfoottraffic.At6,000squarefeet,DogDazeSocialClubisthefirstdogbarinD.C.'sLoganCircle,offeringanicheconceptthatcombinesadogparkwitharestaurantandbar.Barcadein

Philadelphia'sMarketEastcorridorrecentlyopenedan

8,000-sqspacethatcombinesretroarcadegamesandcraftbeer,whichattractsabroadaudienceandpotentiallydraws

peoplewhowouldnotnormallyvisitthearea.

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Familiarfavoritesexpand

RetailerName

Category

Location

OpeningDate

AdditionalNotes

LevainBakery

Bakery

LosAngeles-AbbotKinney

Early2025

Expandingbakerychain

LevainBakery

Bakery

Boston-Seaport

Nov-24

Expandingbakerychain

LevainBakery

Bakery

Philadelphia-WalnutSt

Oct-24

3200s.f.,15thlocation

VanLeeuwen

QSR

Boston-Seaport

Sep-24

Icecreamshop

VanLeeuwen

QSR

D.C.-LoganCircle

Aug-24

Icecreamshop,6thlocationinD.C.area

Sweetgreen

FastCasual

Chicago-Southport

Jun-24

Fastcasualchainknownforsaladsandbowls

CAVA

FastCasual

Chicago-WickerPark

Apr-24

Mediterraneanfastcasual,firstChicagorestaurant

TatteBakery&Café

CoffeeShop/Café

D.C.-Georgetown

Jun-24

FirstGeorgetownlocation

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Internationaldiningentersprimecorridors

RetailerName

Category

Nationality

Location

OpeningDate

AdditionalNotes

Saluhall

CasualDining

Swedish

SanFrancisco-UnionSquare

Apr-24

23,000s.f.plant-forwardfoodhallbyIKEAsistercompany

Moxies

Restaurant

Canadian

Chicago-GoldCoast

Spring2026

13,600s.f.,Vancouver-basedexpansion

HotelChocolat

CoffeeShop/Café

British

Chicago-Southport

Comingsoon

UK-basedchocolatier,firstUSstores

Heytea

QSR

Chinese

Boston-NewburySt

Fall2024

Chineseretailer,fruitandmilkteas

Novikov

FineDining

British

LosAngeles-BeverlyHills

Summer2024

London-based,Mediterraneaninspired

All'AnticoVinaio

FastCasual

Italian

LosAngeles-AbbotKinney

Nov-23

PopularFlorencesandwichshop

I'mdonut?

QSR

Japanese

NewYorkCity-TimesSquare

Late2024