• Setup menu at Appearance » Menus and assign menu to Top Bar Navigation
Sunday, May 22, 2022
Business System Guide
Advertisement
  • Retail
  • Wealth
  • Cryptocurrency
  • HealthCare Technologies
No Result
View All Result
Business System Guide
  • Retail
  • Wealth
  • Cryptocurrency
  • HealthCare Technologies
No Result
View All Result
Business System Guide
No Result
View All Result
Home Retail

Commercial Weekly: Retail Vacancy Declines Pushing Up Asking Rents

by Nala Samir
2 months ago
in Retail
0
Commercial Weekly: Retail Vacancy Declines Pushing Up Asking Rents
153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The retail vacancy rate declined throughout 2021 and ended Q4 2021 at 4.7%, down from the previous quarter’s 4.8%. Retail vacancy as of Q1 2022 is down to 4.5%.

The lowest vacancy is reserved for general retail (2.7%) while power center and strip center vacancy were relatively close to one another at 5.2% and 5.0%, respectively. Mall and neighborhood center vacancy, while declining, remain slightly elevated at 8.0% and 6.9%.

The highest retail vacancy rates were in the Decatur, IL and Chambersburg-Waynesboro, PA markets at 12.8% and 10.7%, respectively, while the lowest retail vacancy rates were seen in western states: Wenatchee, WA (0.6%); Billings, MT (0.9%); Albany, OR (0.9%); Dubuque, IA (1.0%); Bellingham, WA (1.0%); Cedar Rapids, IA (1.1%); St. George, UT (1.1%); Coeur d’Alene, ID (1.2%); and Casper, WY (1.3%). The lowest retail property vacancy rates by the six major retail metro markets1 were as follows: Seattle (2.6%), New York (4.0%), Atlanta (4.3%), Dallas (5.0%), Los Angeles (5.2%) and Chicago (5.9%).

The continuous decline in retail vacancies puts upward pressure on asking rents, upwards to $22.63 for 3.2% annual growth from Q4 2020 to Q4 2021. As of March 17, 2022, rents rose to $22.90 for 3.9% annual growth. Positive retail asking rent growth is occurring in 99% of 390 metro areas, according to NAR’s analysis of asking rent data.2 Leaders in asking rent growth both exhibit double-digit rates and are occurring in Las Vegas, NV (11.4%) and Jacksonville, FL (11.0%). The majority of positive rent growth inside the top 10 are located in the Sunbelt and in Florida in particular where Florida metros make up 40%.

Florida’s retail market is quite hot. Furthermore, backing up to the top 20 markets with positive rent growth over the past 12 months reveals that Florida metros make up a third with several metros experiencing rent growth of at least 6.5% such as Jacksonville (11.0%), Fort Lauderdale (8.6%), Miami (8.1%), Orlando (8.0%), Tampa (7.4%) and Palm Beach (6.7%).

As of March 17, 2022, and of the 24 Florida markets analyzed, 87% of Florida metros saw retail demand (net absorption 12-month) exceed that of supply (net deliveries 12-month). Thus, Florida’s asking rent growth should continue an increasing trend. In Tampa, there was more than 1.3 million square feet that was absorbed by the market in comparison to the square footage that was delivered in the past 12 months, followed by Miami (1.2 million square feet) and Orlando, at 1.0 million square feet.

1 Based on historical sales deal size, the six major retail commercial metro areas prior to the pandemic were Los Angeles, New York, Chicago, Dallas, Seattle, and Atlanta.

2 According to CoStar® market data

Related Posts

Then and Now: The Surprising Start of Your Favorite Retail Formats and Technologies
Retail

Then and Now: The Surprising Start of Your Favorite Retail Formats and Technologies

March 22, 2022
Local CEO, U.K. Researcher Talk Next-Gen Retail Tech
Retail

Local CEO, U.K. Researcher Talk Next-Gen Retail Tech

March 21, 2022
Retail revamp: bringin’ in-store experiences to online channels
Retail

Retail revamp: bringin’ in-store experiences to online channels

March 20, 2022
The six biggest retail technology news stories of the week
Retail

The six biggest retail technology news stories of the week

March 18, 2022

Recent Posts

  • 5 Ways to Use Your Diwali Bonus in a Smart Way May 20, 2022
  • How Technology Is Influencing Web App Development May 17, 2022
  • Jobs And Hiring: How Placement Firms Are Revolutionizing The Process May 15, 2022
  • Minimizing Plastic Packaging Waste In Manufacturing May 12, 2022
  • Why You Should Consider a Home Equity Loan From Private Lenders May 11, 2022
  • HOW TO CHOOSE AN AGRICULTURAL PUMP May 4, 2022
  • How to Become the Best Street Cleaner Contractor Around? April 27, 2022
  • What to Consider Before Picking a Lawyer for Sexual Assault Cases April 27, 2022
No Result
View All Result

2022

  • – May (6)
    • 5 Ways to Use Your Diwali Bonus in a Smart Way
    • How Technology Is Influencing Web App Development
    • Jobs And Hiring: How Placement Firms Are Revolutionizing The Process
    • Minimizing Plastic Packaging Waste In Manufacturing
    • Why You Should Consider a Home Equity Loan From Private Lenders
    • HOW TO CHOOSE AN AGRICULTURAL PUMP
  • + April (16)
  • + March (32)
  • + February (14)
  • + January (23)

2021

  • + December (13)
  • + November (17)
  • + October (12)
  • + September (17)
  • + August (16)
  • + July (23)
  • + June (32)
  • + May (18)
  • + April (18)
  • + March (17)
  • + February (22)
  • + January (17)

2020

  • + December (22)
  • + November (19)
  • + October (20)
  • + September (31)
  • + August (26)
  • + July (20)
  • + June (25)
  • + May (15)
  • + April (18)
  • + March (21)
  • + February (23)
  • + January (24)

2019

  • + December (2)
  • + November (24)
  • + October (3)
  • + September (2)
  • + August (2)
  • + July (4)
  • + June (2)
  • + April (1)
  • + March (1)

2017

  • + March (1)

Tags

Amazon Keywords Champions Academy coding classes Competitor Analysis cost-effective development company Development Team Building Ecommerce hiring an extended development team IHC IQIP noise mitigation printer toner from Toner Bee Short film competition short film contest platforms South Point Casino

Recent Posts

  • 5 Ways to Use Your Diwali Bonus in a Smart Way
  • How Technology Is Influencing Web App Development
  • Jobs And Hiring: How Placement Firms Are Revolutionizing The Process
  • Minimizing Plastic Packaging Waste In Manufacturing
  • Why You Should Consider a Home Equity Loan From Private Lenders
May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    

Site Navigation

  • Home
  • Business
  • Companies
  • Economic
  • Management
  • Marketing
  • Partnerships
  • Services
No Result
View All Result
Wealth

5 Ways to Use Your Diwali Bonus in a Smart Way

Most people look for investment plans in which they can get maximum financial benefits when they get their Diwali bonus. ...

May 20, 2022
Business

How Technology Is Influencing Web App Development

Web app development was all about creating static pages that displayed information from the past. However, with the advent of ...

May 17, 2022
Business

Jobs And Hiring: How Placement Firms Are Revolutionizing The Process

It's no secret that finding a job can be tough. And it's especially hard if you're not sure where to ...

May 17, 2022
Business

Minimizing Plastic Packaging Waste In Manufacturing

As plastic fills the ocean, landfills and even the air around us, we must find ways to reduce our consumption. ...

May 12, 2022
Business

Why You Should Consider a Home Equity Loan From Private Lenders

A home equity loan is an unsecured loan that allows you to borrow against the value of your home. If ...

May 11, 2022
  • Retail
  • Wealth
  • Cryptocurrency
  • HealthCare Technologies

© 2020 Business System Guide. All Rights Reserved.

No Result
View All Result

© 2020 Business System Guide. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In