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In Retail Real Estate, Smaller Spaces See Big Demand

June 12, 2024


“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.

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