More than half of U.S. retail chains plan to open more stores because of lower rents, a report by CB Richard Ellis Group Inc. (CBG) found.
Fifty-nine percent of retailers surveyed said “compelling rent levels” are encouraging them to expand, according to Anthony Buono, executive managing director of CB Richard Ellis’s retail services group for the Americas. The company, based in Los Angeles, is the world’s largest commercial real estate services firm.
“A significant number of retailers will be taking advantage of an opportune time for growth,” Buono said in an e- mailed statement. “Luxury goods, wholesale clubs and discounters in particular are expected to continue to expand.”
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