News

Retail closings may be on record-setting pace

April 20, 2018

Retail closings this year may prove to be a record-setter in regard to storefront square footage, according to a CNBC report.

The closing of 200 Bon-Ton stores, due to liquidation of assets, reflects a retail space closure of 24 million square feet alone, according to CoStar Group data.

So far, as of April, more than 90 million square feet of space is empty and the pace could put 2018 in the record books given just 105 million square feet of space went vacant in 2017.