November 17, 2024 10:42 pm
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Phoenix leads U.S in retail space demand growth

retail space

The Republic

By Catherine Reagor

retail spaceShoppers out at busy malls today may not be surprised to hear metro Phoenix is leading the nation in demand for more retail space.

A new study by national real-estate group CoStar shows demand for new retail space in the region climbed 2 percent in the past year.

Coming in second in the demand for more shopping space is Salt Lake City, with a 1.3 percent increase. Dallas ranked third, with an almost 1.2 percent gain.

In metro Phoenix, empty big-box sites, occupied by retailers before the real-estate crash, began to fill up again last year with alternative users such as schools and churches and also with other retailers. Burlington Coat Factory, Walmart Neighborhood Market and Ross used several of the spots. Continue reading

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