Electronics Retailer Leases In-store Space

Consumer electronics retailer Best Buy is subleasing space within its 46 stores in Southern California to smaller retailers interested in vending areas with high footfall. The leased, in-store retail space will be available to an array of merchants, including grocers, beauty- supply stores, and home-furnishing outlets. Best Buy will benefit from renting the space, while merchants will gain a foothold in a prominent area. The decision is estimated to cut the retailer’s floor space over 20% across participating stores in Southern California, and is expected to represent the start of a scaling back effort nationwide.

Best Buy

As featured in the Future of Retail report.