CBRE highlighted robust fundamentals in the retail sector despite economic uncertainty. Class B malls have rebounded better than expected, with higher sales and occupancy rates, while class C malls are likely to undergo significant redevelopment. Retailers have strategies to navigate recessions, and growth-minded retailers will continue their expansion plans. The overall availability rate in the U.S. retail market is at a record low. Specific markets performing well include Chicago, Philadelphia, Houston, Phoenix, Miami, and Orlando, driven by factors like population growth, economy strength, tourism, and net migration.
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A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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