RETAIL – Key Metrics
RETAIL LEASE RATES
$18.00
$15.81
$15.69
$16.00
$15.00
$14.00
$12.00
$10.00
$8.00
2021
2022
2023
2024
Source: Colliers
Retail lease rates declined marginally from $15.81 in Q1 2023 to $15.69 in Q1 2024. Leasing rates for retail space have hovered within the $15-range since Q4 2022.
RETAIL SPACE UNDER CONSTRUCTION
200K 160K 180K 120K 140K 80K 100K
40K 60K 0 20K
14,240 sq/ft
13,500 sq/ft
2021
2022
2023
2024
Source: Colliers
Retail space under construction continues to taper off with 13,500 square-feet in the pipeline in Q1 2024 – a figure slightly lower than the 14,240 square-feet under construction during the same quarter the previous year, and down significantly from the 172,000 square-feet under construction in Q1 2022.
09
STATE OF DEVELOPMENT – DIVING DEEPER
Made with FlippingBook - PDF hosting