Knight Frank – Retail Renaissance 2025

The main theme of the document is the role of tenants in shaping the commercial real estate market, especially in the retail sector.

The document emphasizes that tenant demand determines the value of real estate, not the other way around. It discusses how retail has survived a crisis by ignoring tenant needs and how other sectors, such as offices and industry, can learn from this experience. Key findings include the importance of adapting real estate to tenant needs to maintain its commercial appeal and prevent vacancies and turnover.