• The direct vacancy rate increased to 4.3%, up 120 basis points (bps) year-over-year.
  • The average direct asking lease rate reached $16.24 per sq. ft. triple net (NNN) through the first half of the year, down $0.76 year-over-year.
  • Negative net absorption of over 14,000 sq. ft. was recorded in H1 2021.
  • At the end of the first half of 2021, nearly 21,000 sq. ft. of retail space was under construction, down 60.2% from H2 2020. Over 31,000 sq. ft. of space delivered in H1 2021.