JLL report: Net deliveries in U.S. retail sector maintain steady pace

Net deliveries for the retail sector in the first quarter totaled 9.5 million for the 139 national index markets in the United States, according to JLL in its first-quarter retail report.

This figure is roughly on par with fourth-quarter deliveries but is 27.4 percent lower than first quarter 2019 numbers. Most of the new space being released to the market has also been pre-leased, with an average of only 25 percent of delivered inventory actually available for lease.

Sun Belt market rent growth continues to trend higher than metros in the Northeast and West, thanks to solid population gains and buying-power growth. Metros carrying significant proportions of older suburban properties and those with stagnant population totals underperform the U.S. average.

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