After a year of modest performance, the fourth quarter closed out 2018 on a moderately higher note.
March 01, 2019
After a year of modest performance, the fourth quarter closed out 2018 on a moderately higher note. Major takeaways include:
Net absorption was higher than in previous quarters, particularly for malls.
Rents in major markets continued to move upward.
Net absorption for major markets in the U.S. inched up 3.2 percent, quarter over quarter, to 16.8 million square feet in the fourth quarter. Trends that will transform retail this year include a growing focus on wellness. Wellness tenants like medical clinics, dental offices and fitness centers create an influx of consumers to the shopping center. Fitness centers, in particular, draw frequent repeat visitors – and consumers tend to shop where they are.