Rising vacancies are giving rise to sharing retail space, a concept involving multiple digital brands sharing space with shorter term rental agreements.
Traditional bricks-and-mortar retailers normally sign a lease of around five to 10 years, according to Jeff Berta, senior director of real estate development at Structured Development, a real estate development company. But emerging brands are instead opting to sign a license with an already existing retailer, as opposed to a lease. This license can last anywhere from a week to multiple months, allowing retail center landlords to fill up space with new brands and brands to test new locations and demographics without an expensive long-term lease commitment.. . . more