Research

United States Retail Outlook Q3 2023

Limited supply a drag on leasing activity

November 07, 2023
Contributors:
  • Keisha Virtue
  • Grant Emery
  • Saul Lua
  • James Cook
  • Ebere Anokute

Despite concerns over inflation and high-interest rates, retail sales continue to grow. However, leasing activity is constrained by the limited availability of desirable retail space, higher operating costs, labor shortage, and increased interest rates. Retail real estate is experiencing a significant shortage of available space, with the availability rate below historical averages. M&A transactions buoyed retail capital markets activity, while power center deliveries remained low, leading to low vacancy rates and steady rent gains. Overall, there is a shift in consumer spending towards experiences and the need for retailers to adapt to changing consumer behavior.

Download the latest retail research report now to learn more.

Fill out this form to download report

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your inquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.