Supply and Demand For Retail Real Estate
Welcome to the Real Estate Espresso podcast, your morning shot at what’s new in the world of real estate investing. I’m your host Victor Menasce. Today’s show is the second in a miniseries on retail real estate. Yesterday, we touched on the changing landscape of retail. On today’s show, we’re going to explore the overall macro picture for retail real estate from a supply and demand perspective. We’re going to highlight five markets across the U.S. that are showing signs of tight supply.
On today’s show, we’re considering the findings from the most recent retail real estate report published by Brokerage House cBRE. If we examine the retail completions over the last three years, they’ve averaged around 30 million square feet per quarter for almost all of the past three years. However, that’s declining rapidly. Completions are forecasted to drop to below 8 million square feet in the second quarter of this year and near 6 million square feet nationwide by the third quarter. For the remainder of the year, it’s an 83% decline in completions.
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