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Kim_Gatley
Kim Gatley
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enior Vice President & Director of Research at REOC San Antonio

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National retailer inks sizeable lease to chase after consumer demand

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22,000-square-foot lease to open its first F21 Red location in San Antonio

Forever 21 is targeting the demand for traditional retail that still exists with its plans to open a spinoff concept in the Ingram Festival power center. The discount retailer has closed on a 22,000-square-foot lease to open its first F21 Red location in San Antonio along NW Loop 410. Forever 21 concept F21 Red has signed a lease for a junior anchor space in the Ingram Festival power center.

The lease for F21 Red — which has been described as an even cheaper version of its discount parent, Forever 21 — boosted the occupancy rate for the 1.2-million-square-foot power center up to 98.5 percent.

It’s rare to see new clothing retailers sign on for brick-and-mortar space larger than 5,000 square feet these days, and while customers’ appetite for new things hasn’t changed, their shopping habits have made some dramatic shifts over the past five years.

However, discount tenants have emerged as one of the strongest tenants likely to go up against the power of online retailers. F21 Red is among brands such as Marshalls, T.J. Maxx, H&M and Dollar Tree that have continued to post revenue increases in the aftermath of the recession.

Click here to read the full article: National retailer inks sizeable lease to chase after consumer demand San Antonio Business Journal (7-22-2016)

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