Market records first positive net absorption since 2015
- Over 200,000 sq. ft. of positive net absorption was recorded in the first half of 2018
- Grocer expansions and new-to-market retailers responsible for majority of positive activity
- Availability rate fell by 50 bps to 7.1%
- Big box average asking lease rates remained unchanged at $7.63 psf
- Small shop average asking lease rates decreased by $0.53 psf to $16.94 psf
- Marketwide average asking lease rate fell by $0.13 psf to $11.05 for the period.