In a video interview with JLL's head of retail services, Naveen Jaggi, the commercial real estate site Costar News reports that competition for retail space in the US is increasing.
Similarly, Colliers International notes that retail vacancies are at their lowest level in two decades while rental prices continue to rise. Ben Haverty discusses the two options for retailers that want to expand: buy land and develop their own building, or be patient and wait for big box opportunities to become available. The pros and cons of these choices are detailed here.
Forbes provides a comprehensive analysis on the second expansion option, highlighting that a significant portion of tenant demand is for freestanding properties and neighborhood centers. For more in-depth analysis and interviews, please visit the Forbes site here and scroll down to the heading, Navigating Limited Spaces In A Competitive Market
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