• The GLA retail vacancy increased to 5.8% at the end of 2019, a rise of 70 basis points, when compared to the close of 2018 when the vacancy rate was 5.1%.


• Net absorption in the fourth quarter totaled -171,460 sq. ft. bringing the 2019 year-over-year total to -561,142 sq. ft.


• Compared with Q4 2018, the average asking lease rate increased by $0.51 or 21.1% to $2.93 NNN. Rising average asking rates stem from steady demand and favorable economic outlook combined with limited availability.


• Unique food and beverage concepts are driving new and revitalized centers across the county, and CBRE Econometric Advisors projects a 3.5% increase in sales throughout the county next year.