The return of consumers to shopping centers with the recovery is cited as a probable factor by JLL in the closure of the least amount of retail space and bankruptcy of retailers in years.
The US is on pace to see 87 million square feet of retail space impacted by closures—which would be the least amount of space since 2016 and nearly half the totals seen in 2020 said JLL, pointing to data from CoStar Advisory Services.
The recovery has also inspired many retailers to expand, particularly those catering to everyday needs such as dollar stores, other discounters, grocers, along with home décor and beauty outlets.
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