2024 Retail Fit Out Cost Guide

RETAIL FIT OUT COST GUIDE 2024

SEGMENTED RETAIL VACANCY AND RENT INVENTORY IS BECOMING INCREASINGLY TIGHT AS VACANCY RATES FALL AND RENTS RISE IN ACROSS CATEGORIES

Vacancy Rate (%)

Vacancy Rate (%) (Baseline)

NNN Asking Rates ($)

NNN Asking Rates ($) (Baseline)

12%

$27

10%

$25

Vacancy Rate (%)

Vacancy Rate (%) (Baseline)

NNN Asking Rates ($)

NNN Asking Rates ($) (Baseline)

POWER CENTER

12%

$27

8%

$23

10%

$25

6%

$21

8%

$23

4%

$19

6%

$21

2%

$17

4%

$19

0%

$15

2008 2009 2010 2011

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

2%

$17

0%

$15

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

NEIGHBORHOOD CENTER

12%

$15 $17 $19 $21 $23 $25 $27 $29

10%

8%

6%

4%

2%

0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

STRIP CENTER

12%

$15 $17 $19 $21 $23 $25 $27 $29

10%

8%

6%

4%

2%

0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Source: CoStar, Cushman & Wakefield Research

17