Q2 RETAIL MARKET REPORT - omnepartners.com€¦ · PROPERTIES UNDER CONSTRUCTION SALES VOLUME &...
Transcript of Q2 RETAIL MARKET REPORT - omnepartners.com€¦ · PROPERTIES UNDER CONSTRUCTION SALES VOLUME &...
Malls
Power Center
Neighborhood Center
Strip Center
General Retail
Other
Market
Vacancy Change (YOY)
Net Absorption SF
Deliveries SF
Rent Growth
Sales Volume
5,266,780
4,929,479
12,787,135
4,445,640
36,492,161
428,771
64,349,966
0.3%
(4.8 K)
295 K
2.6%
$236 M
15.7%
3.9%
11.1%
9.1%
2.9%
0%
6.1%
5.7%
591,944
646,993
-0.1%
$159.2M
$14.54
$16.39
$13.56
$12.89
$14.16
$16.40
$14.17
6.1%
337,245
357,653
0.7%
N/A
8.2%
4.6%
10.8%
9.6%
3.3%
0%
5.7%
7.4%
1,705,324
1,624,710
2.7%
$326.9M
0
0
(58,414)
(13,299)
3,380
0
(68,333)
2007 Q2
2008 Q1
2008 Q1
2020 Q2
2019 Q4
0
0
0
0
0
0
0
4.5%
(340,244)
181,504
-3.7%
$57.6M
0
0
0
0
282,076
0
282,076
2017 Q3
2018 Q3
2011 Q4
2010 Q3
2009 Q3
Current Quarter
Annual Trends
RBA
12-Month
Vacancy Rate
Historical Avg.
Market Rent
Forecast Avg.
Availability Rate
Peak When
Net Absorption SF Deliveries SF
Trough When
Under Construction
KEY INDICATORS
NET ABSORPTION, NET DELIVERIES & VACANCY
Q2 RETAIL MARKET REPORTSource: Co-Star Retail Market Report
Second quarter saw a positive absorption of 81,224 SF largely due to a few transactions. Vacancy is forecast to grow through the end of 2020 and into 2021. The growing vacancy rate will likely have a downward pressure on rents this period. Sales volume has dropped significantly through the initial half of 2020 with per square foot value also dropping during this time and expected to continue to drop into 2021.
As we continue through 2020, we will keep watch on how COVID impacts the retail market:
• How retailers and restaurants perform now that their PPP funds have been used• Number of bankruptcies through the end of the year and how that translate to store closings• How activity fairs with prior recent years during the fall season
13340 California Street STE 100, Omaha, NE 68154 | 402 697 8899 | omnepartners.com
PROPERTIES UNDER CONSTRUCTION
SALES VOLUME & MARKET SALE PRICE PSF
12 325,274 0.5% 91.7%
Properties Square Feet Percent of Inventory Preleased
MARKET RENT PER SQUARE FEET
13340 California Street, STE 100Omaha, NE 68154
402 697 8899omnepartners.com
Dan Dutton402 505 [email protected]
Grace Newton402 505 [email protected]
Dan Goaley402 505 [email protected]
Jordan York308 765 [email protected]