Current consumer spending priorities favor single-tenant assets as Americans continue to dine out, and of course, purchase essential goods, according to a new report from Marcus & Millichap.
The firm said continued inflation, labor market concerns, and high-interest rates are influencing households to prioritize social interactions "over big-ticket items that were popular during lockdowns."
For example, in March, restaurant and bar spending was up 13 percent annually, and in Q1, sales in stores — not including restaurants — were up more than 4 percent year-over-year.
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