Malls had the most expensive rental space among the different types of retail real estate in the United States in 2023. As of the fourth quarter of the year, the average rent in malls was 33.35 U.S. dollars per square foot, compared to 24.69 U.S. dollars for all retail. General retail space, defined as single-tenant freestanding commercial buildings with parking, such as drugstores, grocery stores, and street front urban retail stores, had some of the lowest vacancy rates.
Average rent of retail real estate in the United States in 4th quarter 2023, by property type
(in U.S. dollars per square foot)
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Average rent of retail real estate in the United States in 4th quarter 2023, by property type
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The source adds the following definitions:
General retail: consists of single-tenant, freestanding, general-purpose
commercial buildings with parking.
Malls: includes Lifestyle Centers, Regional Malls and Superregional Malls.
Power centers: consists of several freestanding anchors with minimal
small tenants, 250,000–600,000 sq. ft.
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JLL. (February 14, 2024). Average rent of retail real estate in the United States in 4th quarter 2023, by property type (in U.S. dollars per square foot) [Graph]. In Statista. Retrieved April 02, 2025, from https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/
JLL. "Average rent of retail real estate in the United States in 4th quarter 2023, by property type (in U.S. dollars per square foot)." Chart. February 14, 2024. Statista. Accessed April 02, 2025. https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/
JLL. (2024). Average rent of retail real estate in the United States in 4th quarter 2023, by property type (in U.S. dollars per square foot). Statista. Statista Inc.. Accessed: April 02, 2025. https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/
JLL. "Average Rent of Retail Real Estate in The United States in 4th Quarter 2023, by Property Type (in U.S. Dollars per Square Foot)." Statista, Statista Inc., 14 Feb 2024, https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/
JLL, Average rent of retail real estate in the United States in 4th quarter 2023, by property type (in U.S. dollars per square foot) Statista, https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/ (last visited April 02, 2025)
Average rent of retail real estate in the United States in 4th quarter 2023, by property type (in U.S. dollars per square foot) [Graph], JLL, February 14, 2024. [Online]. Available: https://www.statista.com/statistics/1379047/retail-real-estate-rent-by-property-type-usa/
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