Connect with us

Headlines

More Retail Openings than Closings in First Half of ‘23

But malls continue to lose ground to such rivals as single-tenant properties.

mm

Published

on

More Retail Openings than Closings in First Half of ‘23
PHOTOGRAPHY:  Rawpixel/iStock.com

Retail tenant move-ins (openings) eclipsed move-outs (closings) by 21 million square feet during the first half of the year, according to the CoStar Group Real Estate Data Update for August 2023, an analysis from GlobeSt.com has found. That translates into the 10th consecutive quarter where demand for retail space has grown, CoStar notes.

But there is a major exception to this pattern: malls, where demand for space continues to drop, particularly in older Class B and C properties. But for the fourth consecutive quarter, demand rose  for space in single-tenant properties as well as strip, power and neighborhood centers, CoStar reported.

When it comes to geographics, the South and West accounted for 11 of the top 12 markets that experienced relative demand gains in the past four quarters, thanks mainly to demographic growth. Phoenix topped the roster with 4.6 million square feet, followed by San Antonio, Austin, Fort Lauderdale, Fla., and Kansas City.

Click here for more on the analysis of the CoStar report by GlobeSt.com.

SPONSORED VIDEO

SPONSORED BY VARILUX

The Best Overall Progressive Lens, Now Powered by AI

Engineered with Behavioral Artificial Intelligence and utilizing new XR-motion™ technology, Varilux XR series goes beyond prescription and eye physiology to consider the patient’s visual behavior and design a progressive lens that respects how
their eyes naturally move.

Varilux XR series comes in two versions, Varilux® XR design and Varilux® XR track. The Varilux XR track lens provides an additional level of personalization by incorporating the exclusive Near Vision Behavior Measurement, providing up to 25% more near vision width3 according to the patient’s need, so patients get the highest level of customization.

Discover Varilux XR series and enjoy instantly sharp vision in motion4 and seamless transitions from near to far.

For more information, visit here.

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Advertisement

Most Popular