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Retail Store Closures in U.S. Set for Record

At current pace, shutterings will surpass the 105 million square feet announced last year
Shakeout in Retail

The future of U.S. retail is still a cloudy one as more consumers shift to internet shopping. At last count, store closures announced this year reached a staggering 77 million square feet, data on national and regional chains compiled by CoStar Group Inc. show. That means retailers are well on their way to surpassing the record 105 million square feet announced for closure in all of 2017. And even though retailers have been retreating for years, the country still has about 24 square feet of shopping space per person, many times more than any other developed nation, according to research firm Green Street Advisors.