Increase in suburban retail as people commute to the city less

Many retailers are relocating to the suburbs because visits to shopping centers are on the rise. The success of suburban stores is coming at the expense of retailers in urban and city areas.
Retailers that catered to office commuters have been hard hit. Office usage rates are half of what they used to be before the pandemic. Foot traffic in urban downtown areas in April was down 25% versus April of 2019.
Low foot traffic isn’t the only issue with urban locations. There has been a sharp increase in retail crime. We won’t get into the reasons for it on this video, but suffice to say, it is a material issue despite what people will tell you. I have done retail finance for both Sears and Walgreens.
Suburban landlords are reporting strong demand despite high inflation and increasing interest rates. Even the traditional malls, and outlet centers, are reporting improvements. Simon Property Group operates malls and is reporting a 94.4% occupancy rate.
Works Cited:
https://www.wsj.com/articles/the-decline-of-the-five-day-commute-is-a-boon-to-suburban-retail-55e4dc89?mod=hp_lead_pos2
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