Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.
TOP RETAIL MARKET TO WATCH : San Francisco, CA
Consumers are prospering in San Francisco, and that gives retailers and retail landlords something to celebrate. As one of the U.S. gateway markets that have drawn an outsized share of retailer expansions since the recession, however, San Francisco has essentially filled its inventory of Class A space and offers only limited availability in B properties. The barriers to entry that help to place a premium on existing space are also keeping the construction pipeline in check, forcing some retailers to delay expansions pending an improvement in the availability of suitable space. Cap rate compression and intensive competition for acquisitions have inspired many investors to turn their attentions from this top tier market to cities offering opportunities for larger annual returns. Yet for core retail investors, it’s hard to find a more attractive market than San Francisco.
To read more on San Francisco, and other top retail markets, download the full version of the Top Retail Markets to Watch report below.
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