Combined, the ‘Big Four’ of restaurants, fitness centers, discounters, and grocers account for a majority of demand for retail space across the United States, responsible for just over 51% of the total amount of retail space leased in 2021 and 2022. That’s an increase from less than 49% of leasing activity the four sectors accounted for during the prior decade. Each of these four retail sectors has accounted for over 10% of retail leasing activity since the start of 2021, with restaurants leasing the greatest relative share of retail space during that time at over 18%.
