United States of America Retail MarketView Q2 2014
- Average monthly job growth accelerated to 277,000 in Q2 2014, well exceeding the previous quarter’s monthly average of 190,000.
- Total retail sales expanded by a healthy, 4.5% year-over-year in Q2 2014—a dramatic improvement over the weaker growth of 2.5% recorded in Q1 2014.
- Positive net absorption continued in Q2 2014, with neighborhood, community and strip center tenants absorbing almost 7.4 million sq. ft. during the quarter.
- Q2 2014 completions brought 2.5 million sq. ft. of new space to the market, or 0.1% of the current stock—almost comparable to what was recorded one year prior.
- The national neighborhood, community and strip center retail availability rate dropped 20 basis points quarter-over-quarter to end Q2 2014 at 11.7%.
- The average asking rental rate grew by 0.2% over the same period.