“Less is more” appears to be the new mantra for retailers and QSRs when it comes to square footage for their stores and restaurants. A report from commercial real estate company JLL revealed that in Q1 2024, more than two-thirds (68.5%) of leasing deals were for spaces of 2,500 square feet or smaller.
The trend toward compact selling spaces isn’t a new phenomenon, according to Arvind Cheruku, Partner and CIO of Janapriya Upscale USA, a subsidiary of a 36-year-old real estate company with roots in India. It’s been spurred by consumers’ desire for speed and convenience in-store — wants that were sharpened by the impact of COVID-19.
