U.S. retail net absorption totaled 8.3 million square feet in the third quarter of 2026, following 10.2 million in Q2, JLL said in its latest quarterly report on the sector. The Q3 tally marks the second consecutive quarter of positive demand.

Over the past 12 months, the market absorbed 24.4 million square feet, marking a sharp turnaround from a net loss of 7.0 million a year earlier. National vacancy edged down to 4.3%, due in part to new deliveries being partly offset by demolishment.

Store openings have also outpaced closings year to date, in contrast to 2025. Thus far in 2026, retailers have announced 5,800 openings, compared to 4,000 closures.

Market asking rents rose 1.8% over the past year. “With consumer prices up 3.7%, rents are slipping in real terms, though today’s
pace is roughly average by historical standards,” JLL reported.

In addition, headline rents understate how well owners are doing. JLL noted that publicly traded landlords report new leases signed well above expiring rents, larger annual increases and smaller concession packages.

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