CoStar: Service-based brands will be biggest leasers of real estate space in 2025

For the first time, service-based retailers are now the most active acquirers of retail real estate space, according to CoStar.

In its January topline summary, the commercial real estate analytics platform reported that foodservice tenants accounted for more than 20% of leasing activity during the first 11 months of 2024.

During the same period, fitness brands snapped up 12% of leases, and health care and education tenants grabbed 6%...

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“Fitness brands are a fantastic driver of traffic to a center. They’re not the stepchild any longer, they’re the stars of the show,” Svec said. “The TikTok generation are active members of fitness centers. They’ve become part of their personal brands.” ...

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RSK: Interesting that fitness is one of the leaders and TikTok users are the most apt to sign up for them. That may change since TikTok is now banned in the US.