Retail lending climbs while rent growth slows to 2017 pace
General retail properties, which make up the largest share of inventory, slowed to roughly 1.0%.
Midwest metros post the largest gains
Among markets with at least 100 million square feet of retail inventory, Cincinnati recorded the fastest annual rent growth at 6.2%. Nashville followed at 5.3%, and Charlotte placed third at 5.0%.
Northern New Jersey posted 4.8%, Milwaukee 4.7%, Columbus 4.5% and Phoenix 4.2%. Baltimore reached 3.8%, while Norfolk, San Antonio and Jacksonville each posted 3.7%.
Minneapolis registered 3.5%, Washington and St. Louis each came in at 3.3%, and the Inland Empire rounded out the top 15 at 3.1%. Five of those markets are in the Midwest, namely Cincinnati, Milwaukee, Columbus, Minneapolis and St. Louis.
Rents declined in two of the large markets CoStar tracked. Pittsburgh recorded an annual decline of 1.4%, and San Diego followed at negative 1.3%.
