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Sunbelt Shines for Top Retail Markets

IRVINE, CA—Ten-X’s Peter Muoio says the shift toward online shopping will ensure that the retail sector “will continue to face a steep climb on its road to recovery.”

Ten-X's Peter Muoio “Consumers have been turning away from traditional retail for years,” says Ten-X’s Peter Muoio.

IRVINE, CA—Look to the Sunbelt for the nation’s top “buy” markets when it comes to retail assets, Ten-X said Tuesday. The five markets, including three in Florida and two in Texas, have been able to defy a national trend toward stagnation in the sector.

Ten-X’s first-quarter report on US retail finds that nationally, effective rents posted a 1.9% increase from a year-ago and now exceed their pre-recession peak. Meanwhile, vacancies ticked down by 10 basis points to finish Q1 at a national average of 9.9%.  Deal volume in the sector was $18.6 billion, marking a 22.4% decline from the same period in 2015.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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