Retail fundamentals continued to improve at the start of 2022

Retail fundamentals continued to improve in first quarter 2022, and shoppers are heading back to stores, with demand for fun and immersive experiences on the rise, according to JLL.

U.S. net absorption for retail assets in the first quarter totaled 24.1 million square feet, after an already impressive fourth quarter 2021 total of 24.7 million square feet of net absorption.

During the past 12 months, net absorption reached 94.2 million square feet — the highest level since 2017 — according to JLL.

"Eatertainment" concepts saw traffic surge 22 percent from April 2019 levels and more than 36 percent year-over-year.

Malls saw tremendous improvement in demand during the first quarter; net absorption, which had been negative for seven of the past eight quarters, surged to 2.5 million square feet.

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