Positive Fundamentals Drive Retail Growth
- Average retail net asking rents increased on both an annual and quarterly basis, reflecting increased demand for retail space.
- Net absorption totaled more than 9.7 million sq. ft. in Q3 2019.
- Total retail sales increased 3.5% year-over-year, driven by growth in the e-commerce (non-store retailers) and miscellaneous store retailer (including mail order and resale retailers) categories.
- The overall availability rate declined slightly to 6.1%, with continued demand for grocery-anchored neighborhood community & strip centers.