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Doing More With Less: Average Retail Lease Size Continues To Decline

Big-Box Retail Missing Out on Store Leasing Resurgence Driven by Demand for Smaller Spaces

Retailers with smaller stores such as Starbucks have dominated leasing activity so far this year, expressing a clear preference for "tall" over "venti" when it comes to store sizes. (Getty Images)
Retailers with smaller stores such as Starbucks have dominated leasing activity so far this year, expressing a clear preference for "tall" over "venti" when it comes to store sizes. (Getty Images)

The retail property sector is having a bit of a resurgence in 2021. Store openings are at their highest level in five years, and more retail space has been leased over the first three quarters of this year than in all of 2020.

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