{"id":1004019756,"date":"2010-04-30T12:09:34","date_gmt":"2010-04-30T20:09:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004019756"},"modified":"2022-12-07T05:06:15","modified_gmt":"2022-12-07T13:06:15","slug":"costar-no-rose-colored-glasses-just-yet","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/costar-no-rose-colored-glasses-just-yet\/","title":{"rendered":"CoStar: No Rose-Colored Glasses Just Yet"},"content":{"rendered":"<p>April 30, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/costar_logo.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004019757\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/costar-no-rose-colored-glasses-just-yet\/costar_logo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/costar_logo.jpg\" data-orig-size=\"112,68\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"costar_logo\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/costar_logo.jpg?w=112\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/costar_logo.jpg\" alt=\"\" title=\"costar_logo\" width=\"112\" height=\"68\" class=\"alignright size-full wp-image-1004019757\" \/><\/a><\/p>\n<p>According to CoStar\u2019s Q1 State of the U.S. Retail Market, things are still tenous out there. The information, analytics and research firm\u2019s April 29 event looked at availability, vacancy, construction starts and transaction volume \u2013 and found that difficulty still provides friction against forward motion.<\/p>\n<p>In terms of availability and vacancy, CoStar found that one in 10 square feet of U.S. retail space is either vacant or on the market. With significant store closes by national chains along with local retailers, CoStar reports that the vacancy rate has jumped by about 200 basis points from pre-recession levels. At the same time, the availability rate has increased by more than 400 basis points due to the presence of shadow space, or space that is vacant but not currently on the market. This translates to a 7.7 percent nationwide vacancy rate and a 10 percent availability rate, the firm said during its presentation.<\/p>\n<p>CoStar said that construction starts have \u201ccrashed\u201d, with retail property fundamentals spiraling down to a point that can\u2019t support speculative construction. \u201cNot that the banks are lending anyway,\u201d the company said in its presentation. \u201cand most retailers do not have or are unwilling to spend the capital to open new stores today. This should keep a lid on construction for some time to come.\u201d<\/p>\n<p>The good news came in the form of transaction volume, which increased in the first quarter. CoStar found that REITs and private equity players were net buyers during this time, which helped boost volume. They noted that REITs typically are in the market for high-quality products, of which there are less in the current market. \u201cThis is creating a scarcity premium that may put a floor on pricing for high-end centers,\u201d the firm noted in its presentation. \u201cMeanwhile, distressed sales also factored into higher volumes, accounting for nearly 20 percent of all transactions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to CoStar\u2019s Q1 State of the U.S. Retail Market, things are still tenous out there. The information, analytics and research firm\u2019s April 29 event looked at availability, vacancy, construction starts and transaction volume \u2013 and found that difficulty still provides friction against forward motion.<\/p>\n","protected":false},"author":936,"featured_media":1004019757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,37775,21742,37776,37777,37778],"tags":[],"class_list":["post-1004019756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CoStar: No Rose-Colored Glasses Just Yet - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/costar-no-rose-colored-glasses-just-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CoStar: No Rose-Colored Glasses Just Yet\" \/>\n<meta property=\"og:description\" content=\"According to CoStar\u2019s Q1 State of the U.S. Retail Market, things are still tenous out there. The information, analytics and research firm\u2019s April 29 event looked at availability, vacancy, construction starts and transaction volume \u2013 and found that difficulty still provides friction against forward motion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/costar-no-rose-colored-glasses-just-yet\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-04-30T20:09:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T13:06:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/04\/costar_logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"112\" \/>\n\t<meta property=\"og:image:height\" content=\"68\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"CoStar: No Rose-Colored Glasses Just Yet\",\"datePublished\":\"2010-04-30T20:09:34+00:00\",\"dateModified\":\"2022-12-07T13:06:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/\"},\"wordCount\":317,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/04\\\/costar_logo.jpg\",\"articleSection\":[\"Dividend Yield\",\"Forward AFFO Payout Ratios\",\"News\",\"Premium\\\/Discount to NAV\",\"Price\\\/LTM FFO\",\"Total Return\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/costar-no-rose-colored-glasses-just-yet\\\/\",\"name\":\"CoStar: No Rose-Colored Glasses Just Yet - 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