CBRE found an interesting dynamic in retail rent growth. On one hand, U.S. downtown markets had on average 88-basis-point higher availability rates than suburban markets in 20204’s third quarter. It’s the largest spread since the firm started collecting data in the early 2000s.
That would suggest a disparity that favored suburban markets, including retail. The ongoing impact of remote work means people remain closer to home. As a result, suburbs have lower availability rates, so they should be doing better because there’s more demand for the retail space there.
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