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U.S. retail net absorption remains positive for sixth consecutive quarter
Real Estate - SEPTEMBER 9, 2022

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U.S. retail net absorption remains positive for sixth consecutive quarter

by Andrea Zander

U.S. retail net absorption remained positive for the sixth consecutive quarter but dipped 12.2 percent to 18.9 million square feet, according to JLL. Total transaction volume coming in just less than $44.7 billion, including M&A transactions, an 81 percent increase year-over-year.

During the past 12 months, net absorption hit another five-year high of 94.3 million square feet. A little more than 250 million square feet of retail space has been signed for in the last 12 months, and current estimates put the second quarter 2022 leasing number at 78 million square feet, which would be the highest since fourth quarter 2017.

So far this year, U.S. retailers have announced approximately 4,432 store openings and only 1,954 closings. Year-to-date net openings totaled 2,478. Discount stores top the list of announced openings, with 1,910 new locations planned. Restaurants were second with a combined total of 838, and apparel stores were next, with announced openings of 348.

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