Retail Leasing Is Outpacing 2018 Activity

Jeff Moore is a senior managing director and heads retail services for Southern California at CBRE.

Retail owners have finally cracked the new consumer code, and retail leasing is up as a result. According to a new report from CBRE, retail leasing in Los Angeles is on track to surpass last year’s activity. This year, there have been 3.3 million square feet in retail leasing activity, compared to 5.7 millions square feet all of last year.

“A strong economy, job growth, low unemployment and consumer confidence have been driving spending, which in turn has buoyed retail leasing,” Jeff Moore of CBRE tells GlobeSt.com. “The best-located and amenitized shopping centers continue to experience strong demand for limited availabilities. Restaurants have been a very active category as have the fitness sector, furniture, entertainment uses and the discount fashion sector.”