SITC - Retail space demand strengthens asking rents rise in Q3 Q4 NAR says

Demand for retail space improved in Q3, with net absorption rising to 30.2M square feet, the highest level since Q4 2017,  Research Economist Brandon Hardin said on the National Association Realtors blog. Oct. 1 to Dec. 9, net absorption of retail space totaled 17.9M square feet, with 96% of the gains primarily driven by strong demand for general retail and neighborhood space, he said. Retail vacancy rates fell from Q3 by 10 basis points to 4.7% as of Dec. 9, 2021, as the majority of retail assets see compression, except for malls. With the increase in demand and new retail supply of 2.9M square feet at a new low in Q3, retail asking rents are continuing their upward trend, rising 2.7% Y/Y. Strip centers, at 3.4% Y/Y increase in asking rents, outpace any other retail property type, Hardin wrote. Regions showing the strongest Y/Y gains in asking rents were mostly in

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Retail space demand strengthens, asking rents rise in Q3, Q4, NAR says