Storefronts Peddling Services Overtake Those Selling Clothes And Other Goods

Does it ever feel like your neighborhood strip centers are transforming into endless rows of nail salons, pizza joints, and gyms? If you are thinking it, you likely are not imaging it. These storefronts are popping up all over — in malls, downtown and throughout suburbia. The number of service-based retailers — a category that includes a Dave & Buster’s entertainment venue, a local spa and nail salon operator or a Cheesecake Factory restaurant — surged 20.5% from 2002 to 2017, totaling 1.2 million spaces, a new report from commercial real estate services firm JLL found. Retailers selling goods — such as a Gap or Victoria’s Secret — fell 4.5% to 1.1 million shops during the period. Read more at CNBC.