2022Q4 Multi-Tenant Retail Sales

Amidst higher borrowing rates and widespread economic uncertainty, the retail property sector remains attractive on a risk-adjusted basis. Organizations and companies still operating their businesses through the historic COVID-19 era have proven their quality as paying tenants. Though deal volume certainly slowed in the latter half of 2022, we take a five-year view of our region’s retail property market for additional context. We also encourage tenants and landlords alike to question mainstream narratives that call for dramatic yield spikes and asset devaluations over the coming quarters.

The stock of retail space available for purchase is quite limited at this time, as we are in a wait-and-see period marked by new underwriting standards and relatively high inflation. However, for landlords willing to sell, healthy pricing is still achievable.