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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