Our Mission

Learn who we are and how we serve our community


Meet our leaders, trustees and team

ICSC Foundation

Support up-and-coming professionals

ICSC Exchange

Catch up on industry ideas, news and views


Check out wide-ranging resources that educate and inspire

Global Public Policy

Learn about the governmental initiatives we support


Connect with other professionals at a local, regional or national event

Professional Development

Grow your skills online, in a class or at an event with expert guidance

Find Members

Access our Member Directory and connect with colleagues

Find Outlets

Get data and contact information for shopping outlets

Talent HQ

Search and post jobs, upload your resume or find qualified candidates

Become a Member

Learn about how to join ICSC and the benefits of membership

Renew Membership

Stay connected with ICSC and continue to receive membership benefits


Retail nails 3Q occupancy, rent and sales growth

October 25, 2018

The third quarter was a happy one for the retail real estate industry: Sales and rents rose, consumer confidence remained high and availability fell, across every shopping center category, according to CBRE.

Total retail sales remain healthy

Core retail sales, which exclude motor vehicles and gasoline, rose by 5.5 percent year on year during the quarter, and those are expected to keep growing through the holiday period, CBRE says. Net asking rent increased by 4.3 percent, to an average of $17.41 per square foot.

Net asking rent growth continues to increase

Net absorption of retail space amounted to 13.3 million square feet across all categories of retail real estate during the quarter — including at power and lifestyle centers, both of which had seen a year-over-year absorption decline in the second quarter. Retail real estate availability (space that is vacant regardless whether it is leased or not) fell by 10 basis points from the second quarter and now stands at 6.4 percent.

Availability rates decline in each sector

Helping that decline along, no doubt, was a decrease in the development of new space — some 5.8 million square feet came on during the quarter. The top markets for development were Chicago, Cleveland and Houston, each of which got some 500,000 square feet, according to the report.

Total retail completions

CBRE’s consumer sentiment index outperformed the 10-year average as nonfarm payrolls continued to increase, reaching their highest level since the first quarter of 2017.

By Edmund Mander

Director, Editor-In-Chief/SCT

Save on getting the scoop

Our members get discounted publications, access to ICSC Exchange, and a free subscription to Shopping Centers Today.

Join ICSC today