What the Strong October Retail Sales Mean for Real Estate Investors

• Retail sales numbers surprised to the upside in October

• Despite rising inflation and supply-chain disruptions, consumption outperformed

• Although online sales were up significantly, brick and mortar spending was elevated too

• These data points indicate the broad-based strength of the U.S. economy and support CRE

• At the onset of the pandemic, sentiment for Retail was very low

• However, Retail real estate held up better than expected with foot traffic, vacancy and rents all trending positively

• The Industrial sector has also benefited significantly with performance at record levels

• Strong spending coupled with retailer’s need to maintain larger inventories is supporting Industrial and warehousing space demand