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SAN DIEGO NEWS
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Del Mar Heights Blvd Boasts the Highest Retail Rents in the San Diego Area

11/16/17

San Diego’s Del Mar Heights Boulevard is listed as having the 14th most expensive retail rents in the Americas, according to Cushman & Wakefield’s 29th annual Main Street Across the World report, just released. In last year’s report, Del Mar Heights Boulevard achieved 16th place in the Americas’ ranking.

New York’s 5th Ave takes first place as having the highest retail rents in the world. The report tracks 451 of the top retail streets around the globe, ranking the most expensive in 68 countries by their prime rental value and enabling an analysis of trends in retail real estate performance.

The top-five global city locations include: 1. New York’s 5th Avenue (49th – 60th Streets); 2. Hong Kong’s Causeway Bay; 3. London’s New Bond Street; 4. Milan’s Via Montenapoleone; and 5. Paris’ Avenue des Champs Elysees.

In the Americas, the list’s top five includes: 1. New York’s 5th Avenue (49th – 60th Streets); 2. Los Angeles’ Rodeo Drive; 3. San Francisco’s Union Square; 4. Chicago’s North Michigan Avenue; and 5. Miami’s Lincoln Road.

Cushman & Wakefield’s managing director, Phil Lyons, based in San Diego, said there’s no other trade area like Del Mar Heights Boulevard in San Diego County - the area attracts the highest rents in the region, consistently reaching $100 per square foot.

“The area commands high rents due to the large Class A office supply surrounding the Del Mar Highlands Town Center – which is 4.6 msf - in combination with the residential demographic surrounding the shopping center,” Lyons said. “It comes together as the perfect blend of white collar, daytime population in conjunction with highly-educated, high-disposable income residential (boasting an average household income of $170,000).”




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