Chart of the Day: 400,000 sqft of retail property supply set for 2020

Most of the upcoming supply will be located in the city fringe.

This chart from Cushman & Wakefield reveals that about 400,000 sqft of retail property supply by net lettable area (NLA) is set to open in 2020. Meanwhile, there are almost 200,00 sqft in the pipeline for 2021, and over 400,000 for 2022.

Overall, there are currently 1.69 million sqft of retail property that are either planned or under construction. Most of the upcoming supply are set to be located in the city fringe or suburbs, capturing 1.29 million sqft of properties planned or under construction.

Meanwhile, retail rents across the city are expected to drop in 2020, as recession worries and uncertainties regarding the pandemic remain.