During the past decade, the U.S. retail landscape has staged one of the most notable recoveries in commercial real estate. Once overshadowed by concerns about ecommerce and mall closures, retail — particularly grocery-anchored shopping centers — has emerged as one of the most stable property types. Neighborhood retail assets meet consumer needs for both essential goods as well as culturally relevant experiences, where a weekly grocery trip might sit alongside a visit to a local café, fitness studio or medical office. Together, these tenants reflect how Americans today live, shop and socialize.

Market fundamentals

The sector’s resilience amid broader economic and consumer shifts is evident in its real estate fundamentals. Retail vacancy rates remain near historic lows, rental rate growth continues to exceed expectations, and new development is at its lowest level in decades. Since the great financial crisis, retail sales per square foot have stea