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May 19, 2025, 13:27 PM by Daniel Diebel

Executive Summary:

Obsolete (vacant and off the market) retail space has tripled since Q4 2019, affecting retailers, investors and consumers. Large format retail, particularly super regional malls, accounts for 40% of the obsolete space.
The Midwest has the highest share of obsolete space, while the Northeast has the lowest.
Landlords have significant leverage in lease negotiations due to limited availability.
Retailers may find opportunities to acquire their own spaces or invest in redevelopment strategies, such as converting obsolete malls into mixed-use spaces.

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