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The shape of the retail market and the demand that drives it is evolving. Planned and announced US store openings for 2024 are to total more than 4,200 — outpacing store closures by 20 percent and resulting in nearly 78 million square feet of new retail space, Coresight Research estimates.
The market has moved accordingly and presents an opportune moment for the industry. Vacancy rates in US shopping centres fell to 5.3 percent in the last quarter of 2023, the lowest rate on record in more…
