Open-air shopping center Real Estate Investment Trust (REIT)’s report strong leasing activity from essential tenants in the first quarter. They expect demand for space to continue as more centers are able to reopen.
‘Many of these essential businesses continue to move leases forward and actually continue to sign leases, the team was able to sign 38 leases and almost 250,000 square feet in March. Sixty percent of that was within the last two weeks when we were effectively shut down. The company also has interest from essential uses, new types of grocers and tenants moving away from other property types into neighborhood centers like those owned by Brixmor.’ – Brian Finnegan, executive vice president and chief revenue officer.
