Commerce + Communities Today

By Steve McLinden

An excess of retail space pre-COVID yielded to a dearth of it. Now, the industry has finally started a measured march to equilibrium. Forecasts show a small uptick in new retail construction planned for 2025 and considerably more for ensuing years. When paired with rising investor interest and other go signs, that gives hope to landlords and brokers hankering for new Class A space in which to settle expanding retail and restaurant tenants. But the question of when the supply will increase lingers.

“There’s less incentive for centers such as Easton to quickly backfill after a tenant lease expires,” said Steiner senior vice president of leasing Spencer Jordan. 

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