U.S. retail looks to perform in 2014
The expected addition of 2.7 million new jobs and GDP growth forecast at 2.5 percent to 3 percent in 2014 has retail market fundamentals all trending upward in 2014, according to Marcus & Millichap’s 2014 National Retail Report.
Growth in national economic fundamentals will also supplement increased consumer capabilities from the “wealth effect” in the middle class created by housing and equity appreciation, all of which has led to projected vacancy rate declines in every market in the report’s National Retail Index.
Retail sales per capita are at an all-time high, 10 percent higher than past peaks, propelling retailer corporate profits to an all-time high as well. Total NOI for shopping centers increased by 7 percent in 2013, the high