CBRE's Q2 2026 U.S. Retail report shows average asking rent rose 2.4% year-over-year to $24.79 per sq. ft., with the availability rate unchanged at a tight 4.9% after four straight quarters of positive net absorption. Historically low new construction is driving the squeeze, and neighborhood/community/strip centers saw their first negative net absorption since Q2 2025 due to apparel and bank-branch closures. Sun Belt and Midwest markets like Chicago led new construction.
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Retail rents hit $24.79/sq ft in Q2 2026 as availability stays tight at 4.9%
Why this matters for founders
For a retail, restaurant, or storefront business, expect little bargaining power on rent and few vacancies in prime corridors, so budget higher occupancy costs and start your space search early. Strip-center closures mean some second-generation spaces (already built out) are opening up, which can cut your fit-out costs, worth targeting over raw new construction. Sun Belt metros still have the most new inventory if you need choice.
Source: CBRE
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