Retail Property Asking Rent – Lease Trends

The average asking lease rate for retail properties in the metro area was $14.16 per square foot for the month. This is down 5% from the previous year, and down 0.7% from the end of the second quarter of 2012. Asking lease rates for retail properties have fallen to a new three-year low this month. Prior to this, the record three-year low was last month at $14.19. Source - LoopNet