Our Mission

Learn who we are and how we serve our community

Leadership

Meet our leaders, trustees and team

ICSC Foundation

Support up-and-coming professionals

ICSC Exchange

Catch up on industry ideas, news and views

Research

Check out wide-ranging resources that educate and inspire

Global Public Policy

Learn about the governmental initiatives we support

Events

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

SCT

U.S. has 13.7 billion square feet of retail real estate, valued at $2.4 trillion: Report

July 11, 2019

There is nearly 71 billion square feet of commercial real estate in the U.S., valued at roughly between $14.4 trillion and $17 trillion, according to Nareit, using primarily CoStar data.

Retail real estate, specifically, comes to nearly 13.7 billion square feet across the U.S., valued at a total $2.4 trillion, which works out to $179 per square foot, according to the report.

Nareit estimates that REITs hold about 10 percent of total commercial real estate. When it comes to institutional-grade properties, REITs own about 20.4 percent, the report says. And roughly a third of all commercial real estate value is to be found in the so-called gateway markets: Atlanta; Boston; Chicago; Los Angeles; New York City; San Francisco; and Washington, D.C. Approximately half is in the next-largest 47 markets, and the balance is in other markets.

There is nearly 13.7 billion square feet of retail real estate across the U.S., valued at a total $2.4 trillion

Health care real estate is the priciest, amounting to an average of $864 per square foot, according to the data, followed by hospitality, at $617 per square foot; office ($218); retail ($179); multifamily ($165); flex ($145); and industrial ($73).

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