Retail
Author: Diana Heeb Bivona
Applied Analysis is reporting that the retail average asking rents were $1.75 per square foot triple-net in the first quarter. This is a $.06 increase over the previous quarter and $.13 higher than a year ago. While some experts view the current marketplace as supply constrained, this is expected to change with 1.3 million square feet of new space under construction in the first quarter and another 3.3 million square feet planned for future development.