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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
