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Chart Day! November 16, 2010

Posted by Sean Tufts in Blogs, Research/Data, Retail News.
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A couple of interesting charts today.  Sales volume appears to be up on a national level while cap rates and per square foot pricing continues to improve.   Behind the numbers you see the significant impact of Simon’s $2.3 billion Prime Outlets portfolio purchase.  Without that deal, total volume remains basically unchanged at $3.3 billion.

The two sources reporting average national cap rates show a pretty large discrepancy between their data.  CBRE is reporting an average national retail cap rate of 8.49%, while Real Capital Analytic’s reports a national average of 7.79% (tracking only deals over $5m).  Another positive note is the continuing upward trend of retail sales figures.  One noticeable difference this year is the lack of discussions about poor anticipated holiday spending that we’ve become used to over the last couple of years.  Most projections show an expected increase of 2-2.5%, which will be welcomed by all retailers and landlords.

Real Capital Analytic’s via Retail Traffic: Retail Investment Sales Volume 3Q 2010.

 

Real Capital Analytic’s via Retail Traffic: Retail Investment Cap Rates & Pricing 3Q 2010.

 

CBRE Research via Retail Traffic: Cap Rate Trends Q3 2010.

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