Retailers operating in the suburbs have benefited from the remote work trend that began when the novel coronavirus pandemic began in 2020. That has led retailers with stores in city business districts to look for space in the suburbs.
Foot traffic in city downtowns in April was about 25 percent lower than during the same month in 2019, according to MRI Springboard.
The Wall Street Journal reports that landlords with suburban properties, including Site Centers, Phillips Edison and Simon Property Group, say that the percentage of properties leased has increased since the beginning of the year.
