The retail leasing market is expected to continue its upward trend in late 2023 and into 2024, according to experts interviewed at the recent Connect Retail West conference. Andrew Hotchkiss, regional director at CREXi, stated that there is a high demand for retail space on their platform. He also noted that tenants are looking for smaller spaces of about 1,000 square feet as they right-size their occupancy needs. Despite this trend, Hotchkiss predicts that vacancy rates will continue to decrease.
In addition to Hotchkiss’ insights, the video below features commentary from Andrew Chung of The Econic Company and attorney Barry Edwards from Greenberg Glusker. It provides further evidence of the sustained demand for retail space in the current market landscape.
