• Despite struggles in the retail industry, Tucson posted its second consecutive quarter of healthy net absorption, ending the fourth quarter with 33,273 sq. ft. of net absorption
  • The metro Tucson retail vacancy decreased to 7.5% the end of 2019, a decrease of 42 basis points, when compared to the close of 2018 when the vacancy rate was 7.9%
  • The retail market is staying strong as large tenants are absorbing space that has been vacated in the last few years
  • Tucson’s average asking lease rate ticked up 12.7% over the last 12 months, ending the quarter at $17.46 NNN per sq. ft.