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When it Comes to Retail, Necessity-Based and Experiential Drive Demand
“Using the number of square feet leased in similar center types, data shows a cyclic shift from more traditional tenants – such as apparel – to necessity-based and experiential tenants.”
The change in square feet leased between 2007 and 2018 shows that square footage for apparel retailers has decreased 10% while experiential retail has seen an almost 100% increase.
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