The Slowdown in Open Air Retail Space in America

In 2023, there will be fewer deliveries of new retail buildings in America than at any time since the Second World War. We are now in the 15th year of delivering less new retail space in America than we are taking offline and demolishing. People don't want these things in their backyards. That's why it's very often difficult to build multifamily in these suburban areas. Zoning entitlements remain very, very demanding.