Location even more important during economy uncertainty.

The current environment of economic uncertainty has increased the importance of location in the retail real estate equation. Markets like Manhattan, with an enormous quantity of pedestrian traffic -- tourists, residents and workers -- provide the deepest pool of potential customers. However, even within Manhattan, national retailers are focusing more than ever on the fundamentals, or traffic numbers, of the ideal location.

A high volume of consistent foot traffic, of those walking to work, home or some other major destination, provides an unparalleled opportunity for a retailer to make an impression and to attract repeat customers. Retailers in the flow of traffic benefit from shoppers' desire to maximize efficiency by shopping in conveniently located stores. And once consumers stop in retail establishments on their daily route, they are much more likely to return.

This kind of pedestrian traffic is one of the keys to the success of the New Manhattan Mall, located in the most highly trafficked retail corridor in the nation -- the Herald Square area, which draws 100 million people a year. The blocks surrounding the New Manhattan Mall include the Empire State Building, Madison Square Garden and Macy's Department Store. Macy's alone attracts more than 10,000 people a day.

Contributing to the success of this area is the transformation of the commercial office and residential sectors during the past year. The New Manhattan Mall itself, located on Sixth Avenue between 32nd and 33rd streets, has been one of the forces of change. The recently repositioned property consists of 180,000 square feet of retail space below an 800,000-SF office building.

The property features Class A tenants such as Foote, Cone & Belding, a leading worldwide advertising agency that now occupies 270,000 SF in the building, and Bank of America, which occupies 180,000 SF of space. The global communications firm, Publicis, is yet another high-profile office tenant that recently relocated to the area. In addition to the quality tenants in the building more than 625,000 office workers work within a 15-minute walk of the New Manhattan Mall.

The area has also has seen an influx of new luxury residential towers. Thousands of new residential units are now under construction in the neighborhood, which has attracted developers that have seen the success of the luxury projects on Avenue of the Americas between 23rd Street and 28th Street. The Herald Square area, which is a natural extension of the Sixth Avenue residential corridor, has also proven to have the services and amenities sought by residents. The New Manhattan Mall is located one block from a major transportation center, New York's Penn Station. The building's concourse offers access to nine subway lines and the N.J. PATH train, with another seven subway lines within a one-block radius. In addition, 14 bus lines intersect the area.

Being so close to thousands of office workers, residents, entertainment and mass transportation, the New Manhattan Mall represents a great platform for traditional and mall retailers looking to break into the New York City market. Retailers accustomed to paying anywhere $30 to $60 per SF for space outside of Manhattan are often hit by sticker shock in New York City, where street-level retail often runs from $250 to $400 per SF. The New Manhattan Mall, the only true mall in New York City, offers retailers the opportunity to break into the market while paying $100 to $200 per SF, half the cost of street-level retail.

The New Manhattan Mall offers the benefits of a mall and a central New York City location, which has significant appeal to retailers who have found that it is not enough to secure a location in a trendy district The right location involves a great many factors the most important of which may be the daily flow of people to and from work, home and other destinations. This built-in supply of shoppers provides an unequaled chance for retailers to reach steady customers.

The New Manhattan Mall, located on Sixth Avenue between 32nd and 33rd streets, consists of 180,000 SF of retail space below an 800,000 SF office building. There is 65,000 SF of retail space still available and current tenants include Express, Victoria's Secret, Children's Place, Body Shop, Nine West, Radio Shack, Aeropostale, KB Toys, Motherhood Maternity and Wet Seal, among others. The New Manhattan Mall is owned by Argent Ventures. For more information, please contact Bob Gellert at 212-946-6180, Mike Dobeck at 212-946-6181 or visit www.thenewmanhattanmall.com.