The investment prospect continues to look favorable for the single-tenant sector, which has proven to be "extremely resilient," according to a report from Marcus & Millichap as it enters 2024 amid the likelihood of cuts in interest rates.
Currently, vacancy remains tight at 4.3 percent, tying 2018's record low, with the mean asking rent at an all-time high.
About half of the nation's 50 major retail markets exhibit sub-4 percent vacancy and 10 of those metros had record-low vacancy — featuring Sun Belt markets, Chicago, Cincinnati, and Philadelphia.
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