Retail Rents Rising Briskly Across North Carolina’s Major Markets

Buoyed by the combination of rising consumer spending and limited available space, asking rents for retail space across the U.S. increased by an average of 3.2% over the past year to a new record high of $24.95 per square foot. While the pace of growth has moderated in recent quarters with consumers pulling back on discretionary spending in the face of inflation, retail property landlords across the country continue to enjoy one of the most favorable pricing environments in recent memory.