In 2016, CoStar Market Analytics made the call that, in today’s overbuilt and multichannel retail environment, 1 billion square feet of store space must be rationalized, repurposed or removed from the market to return retail real estate to normal levels of productivity.
The Repurposing of Retail Has Begun As More Opportunistic Buyers Target Under-Performing Shopping Centers
CoStar Insights: Composition of Shopping Center Sales Reveals Retail Space Rationalization is Ramping Up
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