SVN® International Corp. presents the 2024 State of the Market Report, giving insight into the retail sector.
Though once considered a laggard in commercial real estate, the retail sector has rebounded and is now showing resilience in the market. Despite facing challenges such as struggling malls and urban retail spaces, the sector is emerging as a standout performer. With minimal excess supply and national vacancy rates below 5%, competition for available space is intense.
Additionally, the surprising strength of the US consumer has supported the sector, with increased spending even amid recession concerns in 2023. Despite a rise in cap rates by 50 basis points, the current environment is less unfamiliar, with retail cap rates similar to those seen as recently as 2019.
Learn more about recent changes in the retail sector by clicking on the full report below!
