COVID-19 Weakens Retail Real Estate Fundamentals in Q3

 

  • Retail sales rebounded to pre-COVID levels in Q3 as consumer sentiment improved.

 

  • Retail real estate fundamentals weakened in Q3. The total retail availability rate increased by 20 basis points (bps) to 6.6%.

 

  • Negative net absorption totaling nearly 15 million sq. ft.—largely in the neighborhood, community & strip center segment—was the largest decline since Q1 2009.