• Direct vacancy rate increased to 4.0%, up 82 basis points year-over-year.
  • The average direct asking lease rate climbed to $17.96 per sq. ft. triple net, up 14.1% over 2018.
  • Despite negative net absorption in the first half of the year, positive net absorption of 36,358 sq. ft. was recorded in H2 2019 which helped bring year-end net absorption to 31,738 sq. ft.—up 20.8% year-over-year.
  • Construction activity was stable at the end of 2019 with over 542,000 sq. ft. of retail space underway.
  • Annual retail completions reached 225,000 sq. ft. with 83,000 sq. ft. delivering in the second half of the year.