The recent stretch of store closings has pushed retail space availability to a new two-year high.Commercial real estate data firm CoStar’s newest report reveals that store closures more than doubled in 2024 compared to 2023, pushing the retail space availability rate to 4.8%. This marks the most retail space available for lease than at any point in the past two years.
CoStar says that since the start of 2024, retailers have announced plans to close more than 10,000 stores, with chains like Big Lots, Joann, and Party City closing hundreds of locations. Closures have led retail space availability to increase by approximately 12.5 million sq. ft. since the start of 2025...
RSK: Even though there are a few more vacancies due to closures and bankruptcy, retail demand remains strong. THose spaces will no doubt fill up by successful businesses that are expanding.
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- - Volume: 25 - WEEK: 14 Date: 4/2/2025 6:09:59 AM -