• Direct vacancy rate increased to 3.8%, up 40 basis points (bps) year-over-year.
  • The average direct asking lease rate reached $17.86 per sq. ft. triple net (NNN), up 4.8% year-over-year.
  • Net absorption of negative 4,620 sq. ft. was recorded in H1 2019, an improvement from H2 2018 when net absorption was negative 8,347 sq. ft.
  • At the end of Q2 2019, over 538,000 sq. ft. of retail space was under construction, down slightly from H2 2018.