‘Feeding Frenzy’ For Restaurant, Retail Space Leaves Brokers Scrambling For New Locations

When Foxtrot, the chain of high-end neighborhood markets, shuttered abruptly in April, Retail Connection Managing Director Steve Zimmerman said he was fielding calls nearly instantaneously, with numerous brands clamoring for space.

“There was a line out the door to go get them,” he said.

The dozens of urban locations thought to be opening up had such appeal because of a shortage of available retail space that has put pressure on retail real estate brokers like never before to beat the competition when an opening arises.

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RSK: Good retail is hard to find and rates have remained steady or even increased. Supply is short and demand is up.