Service-oriented leasing surpasses goods-based tenants for first time

Retail landscape embraces shift to service industry.

TRD Staff
03.18.26

Service-oriented leasing surpasses goods-based tenants for first time

Goods aren’t gone from the retail market, but landlords are embracing service industries at a historic level across the country.

Last year, “service-based” tenants — like spas, gyms and cryotherapy facilities — leased more than half of the total retail square footage transacted, the Wall Street Journal reported, citing data from CoStar. It’s the first time service tenants outpaced goods-based tenants in the records.

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