The retail market is on the path to recovery, but there remains a clear bifurcation between national and non-national retailers. Overall, rent collection among national tenants has hit 95%, where rent collection among non-national tenants has not yet surpassed 90%.

Unsurprisingly, August 2021 rent collection trends do look markedly better than they did in August 2020. Collections for last month eclipsed 92%, which is 12% ahead of those same numbers in August 2020. Nationals did even better, surpassing the 95% collection threshold," Mark Sigal of Datex Property Solutions tells GlobeSt.com.

While payment from non-national retail tenants still has yet to surpass 90% rent collection, Sigal notes that the recovery among this retail segment is actually strong. Ironically, their improvement has outpaced the recovery of nationals year over year, up 14.5% in that time, albeit off a lower base number with non-nationals paid just under 90% of their rent," he says.