Store closures are increasing retail space availability by 12.5 million sq. ft. in 2025

Retailer closures have caused retail space availability to increase by approximately 12.5 million sq. ft. since the start of 2025, according to a recent analysis by CoStar Group.

Since the start of 2024, announced closures total more than 10,000 stores, with chains like Big Lots, JOANN Stores and Party City, each closing hundreds of locations.

Planned closures are not limited to the chains going out of business. Macy's Inc. announced in February that 66 stores will permanently close in 2025.

Separately, JCPenney announced it is closing eight stores by mid-2025 as part of ongoing restructuring efforts following its 2020 bankruptcy filing. Those are:

- California: The Shops at Tanforan in San Bruno
- Colorado: The Shops At Northfield in Denver
- Idaho: Pine Ridge Mall in Pocatello
- Kansas: West Ridge Mall in Topeka
- Maryland: Westfield Annapolis Mall in Annapolis
- North Carolina: Asheville Mall in Asheville
- New Hampshire: Fox Run Mall in Newington
- West Virginia: Charleston Town Center in Charleston

Of the 143 U.S. markets within the CoStar national retail index, available retail space increased in 79 over the past year, while 64 saw a decline in retail space availability over the same time frame.

In almost half of major U.S. retail markets, retail space availability increased, but in some markets, such as Tampa, Nashville, and Orlando, availability actually decreased, as retail space availability is still tight across the U.S from a historical perspective.

Read more: Available retail space increases for first time in two years (Chain Store Age)