Grocery Tenants Assist to Prop Up Retail Rents

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Grocery Tenants Help to Prop Up Retail Rents

Grocery and pharmacy tenants helped prop up average retail rental prices during the pandemic. According to a new report by Moody & # 39; s Analytics RICEUS retail rents fell 0.5% to 0.6% during the pandemic in neighborhood and communal retail centers, a relatively nominal decrease given the economic shock. The report attributes this to the fact that many of these neighborhood centers are often anchored by grocery stores or pharmacies that not only stayed open during the pandemic but also performed well. Ultimately, this helped keep retail rents up.

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