AT&T Signs Five-Year Extension on Retail Space at 3 Times Square
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
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On the RET wire
- Disclosed retail deal value tracked in October 2026: $11.1B across 80 reported transactions. All Retail coverage →
Computed from Real Estate Trail’s own tracked coverage
Rudin said Wednesday that AT&T has signed a five-year extension of its retail lease at 3 Times Square. The telecom giant occupies a 6,623-square-foot Times Square location that includes a ground-floor storefront on Se…
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