Retail Space Per Capita Hits a Multi-Decade Low

However, there are 11 markets where retail inventory per capita has expanded.

By Philippa Maister | September 18, 2023 at 07:43 AM

Remember when the U.S. was an over retailed nation? That was then. Today construction has dwindled and over 130 million square feet of retail space has been demolished in just the past five years, especially in aging malls.

CoStar’s September 2023 real estate update reveals that retail space per capita in the 45 largest markets in the U.S. has hit “a multi-decade low” of 54.3 SF per capita – a 3.9% drop since its 2009 heyday of 56.5 SF per capita.

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