Retail Market Research/Reports
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Washington
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Seattle Retail Market Report
Third Quarter 2016The retail market is strong in the core markets of Seattle and the Eastside, where most of the employment growth is occurring. The balance of the market ranges from stable to slightly soft. There is positive absorption, moderate new construction and a strong investment climate for stabilized centers and single tenant net leased properties.
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Oregon
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Portland Retail Market Report
Third Quarter 2016Portland retail market characteristics remain strong with decreasing vacancy, gently rising average asking rental rates, and healthy net absorption. We continue to see an active market with plenty of buyers, many of which are involved in 1031 exchanges. With the cost of debt still very low, it makes sense for many investors to move now. There seems to be a flood of buyers from outside of the state, primarily California, seeking to enter the Portland market by acquiring grocery-anchored centers as well as value-add centers. We expect cap rates to remain compressed throughout the year and likely into 2017, depending on a variety of factors.
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Arizona
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Phoenix Retail Market Report
Third Quarter 2016The Phoenix retail market ended the second quarter with just over one million square feet of leasing activity, high net absorption, and increasing rental rates. Retail direct vacancy held firm at 8.6%, a result of the considerable leasing activity this quarter balancing out almost half a million square feet of construction deliveries. With growing demand the market continues to tighten, and we expect increased competition for space and higher rates to continue in 2016. The Phoenix unemployment rate sits at 4.8%, a 40 basis point decrease from the 5.2% recorded this time last year.
Downloads Third Quarter 2016 Phoenix Retail Market Report Second Quarter 2016 Phoenix Retail Market Report First Quarter 2016 Phoenix Retail Market Report -