Demand for Retail Space Improved in Q1

Miami, FL, May 23, 2016—Thirty of 62 U.S. markets reported tighter availability for retail space in the first quarter, according to the World Property Journal.

“CBRE expects the retail industry to remain bifurcated, with each market's best-positioned shopping centers achieving the highest performance - and highest rents -- as the rest strive to adapt to the evolving retail market and have a tougher time boosting rents,” reports the World Property Journal.

Among those notching quarter-to-quarter declines in their availability rates were Providence, Rhode Island; Trenton, New Jersey.; Raleigh, North Carolina; and Bakersfield, California.

Those that recorded the largest declines in availability on a year-over-year basis include Atlanta, Georgia; Salt Lake City, Utah; Providence, Rhode Island; Raleigh, North Carolina and Austin, Texas.

Those registering an increase in availability in the first quarter from the fourth were Pittsburgh, Pennsylvania; Indianapolis, Indiana; Oakland, California and Tulsa, Oklahoma.