Mar 08, 2017 - 0 Comments - Retail Properties, Trends -

Video: Dr. Victor Calanog, Chief Economist & SVP at Reis, On 2016 Q4 Retail Market Trends

Reis Chief Economis and Senior Vice President Victor Canalog, PhD, provides an analysis of market fundamentals in the retail property sector for the fourth quarter and year of 2016.  Some highlights from this video include:

  • Retail property fundamentals were mostly flat for 2016
  • In neighborhood and community center properties:
    • Vacancies were unchanged for the fourth quarter of 2016, down a mere 10 basis points for the full yearr
    • Both asking and effective rent grew ,4% in the fourht quater.
    • For the year, asking rent grew 1,9% while effective rent grew 2.0%
  • In regional mall properties
    • Vacancies were unchanged for both the fourth quarter and the year
    • Asking rents increased 0.4% for the quarter and 2% for year
    • Still struggling with retail tenants figuring out optimal selling channels
    • With a rash of store closings, including Macys, J.C. Penney, and The Limited, now having change in expectations, now expecting vacancies to rise slightly in 2017 before stabilizing in 2018
    • Non-traditonal tenants incoreasingly prevalent
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