Available retail space increased by roughly 2 million square feet in the first half of 2026. Current availability at the end of the second quarter was just under 27 million square feet. While this is the highest level seen in the past several years, it is a far cry from previous spikes in the market, such as the post-pandemic peak of 32.6 million square feet or the recovery from the Great Recession, which pushed available space to just over 42 million square feet.
