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Retail tenants remained in expansion mode during first quarter as tariff talk heated up

Retail leasing accelerates as demand for space holds strong
A Crunch Fitness retail location at the Houston Lakes retail center in Florence, Kentucky. The expanding fitness franchise was among the most active firms leasing retail space in the first quarter. (CoStar)
A Crunch Fitness retail location at the Houston Lakes retail center in Florence, Kentucky. The expanding fitness franchise was among the most active firms leasing retail space in the first quarter. (CoStar)
CoStar Analytics
May 19, 2025 | 8:17 P.M.

Despite growing concerns surrounding the effect of tariffs on an already fragile consumer base, retail tenants remained in expansion mode in the first quarter, signing leases for just over 55 million square feet of space.

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