Market records first positive net absorption since 2015

  • Over 200,000 sq. ft. of positive net absorption was recorded in the first half of 2018
  • Grocer expansions and new-to-market retailers responsible for majority of positive activity
  • Availability rate fell by 50 bps to 7.1%
  • Big box average asking lease rates remained unchanged at $7.63 psf
  • Small shop average asking lease rates decreased by $0.53 psf to $16.94 psf
  • Marketwide average asking lease rate fell by $0.13 psf to $11.05 for the period.