Effective retail rents grew by 0.1% in the second quarter, a sign experts from Moody's Analytics say shows a "significant" lack of stress, considering typical trends in the sector.
The uptick has "at least temporarily, moderated the glut of negative sentiments across analysts and industry stakeholders," Moody's Thomas LaSalvia notes in a new analysis of Q2 CRE data. The overall vacancy rate for retail in Q2 clocked in at 10.5%, while asking rents were $21.33 per square foot and effective rents came in at $18.59 per square foot.
Another surprisingly bright spot? Regional and super regional malls, which showed vacancy increases of only 10 basis points during the quarter and asking rent increases of 0.2%.
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