Google might be the quintessential “Internet” company, but even they can’t resist the draw to physical retail, spurred by their foray into computers, devices, and wearables.
What better place to plant your first retail stake in the ground than New York City, SoHo to be specific, according to reports from Bloomberg.
From the article:
About 8,200 square feet (760 square meters) of store space is available to rent at 131 Greene, according to real estate website Propertyshark. Greene Street has attracted such luxury retailers as Tiffany & Co. and Louis Vuitton in a neighborhood that has seen steady growth in upscale shopping, Consolo said.
“Google has a downtown vibe anyway, but wherever they go it would be exciting,” she said. “I believe if they went to the middle of the river, people would go there, but why not be in the center of everything?”
Soho ground-floor retail rents increased 41 percent to an average of $762 a square foot in the 12 months through September, according to a report late last year by the Real Estate Board of New York. That was the highest of any shopping district south of Midtown.