The retail space is seeing success with occupancies thanks to big consumer demand in the first handful of months of the year.
In March alone, multi-tenant vacancies in the retail space hit an all-time low, a national report from Marcus & Millichap shows. In addition, single-tenant occupancies almost hit a record low, just missing the mark by 10 basis points. Convenience stores and fast food establishments have posted the lowest vacancy rates, which came in at 1.1 percent and 1.3 percent, respectively.
"The retail sector was the only major commercial real estate property type to note vacancy compression over the yearlong period ending in March," the firm wrote in the report.
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