Globe St recently reported on retail leasing trends, and even though retail leasing is different between cities, there are some commonalities that are relevant throughout the market. Over the last 12 months, there seems to have been increasing interest in co-tenancy, and tenants are wanting early termination rights as well as tenant improvement allowances. Casual quick-serve franchise restaurants have experienced high activity as well.
On the other hand, finalizing letters of intent have been one of the highest roadblocks to overcome. Finalizing and agreeing upon terms, waiting for the lease to reach higher-up decision makers, then waiting in line behind higher-priority deals, have made the process more cumbersome than efficient.
Big box retail spaces have filled up nicely since the bankruptcy issues have subsided, and large health club fitness center facilities have really been on the rise. Supermarket retailers have also been busy with activity and growth, but there's also been a continuing downsizing trend among retailers looking to maximize sales per square foot. Over the last few years where there once was an abundance of space, things have shifted from a tenant's market to a landlord's market. Click here to read the full story from Globe St.
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