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Retail rent gains slow as store closings provide more leasing options

Landlords still see elevated rent increases for spaces that turn over, just not at previous record levels
Retail rent increases have begun to moderate after staging large gains over the past few years, especially in high-growth Sun Belt markets. Retail rents in Nashville, Tennessee, shown here, have increased 71%. (Chase Brock/CoStar)
Retail rent increases have begun to moderate after staging large gains over the past few years, especially in high-growth Sun Belt markets. Retail rents in Nashville, Tennessee, shown here, have increased 71%. (Chase Brock/CoStar)
CoStar Analytics
March 31, 2025 | 6:12 P.M.

More retail space is hitting the market as stores close, causing rent growth to ease.

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