Retail capitalization rates in July 2009 varied by 170 basis points across US regions, according to data published by Real Capital Analytics (RCA).
The highest retail cap rates, averaging 8.3%, were registered in the Southeast, while the second highest retail cap rates were registered in the Southwest and Midwest, where they averaged 7.5%.
The West was the region with the lowest retail cap rates, averaging 6.6% in July 2009. The second lowest retail cap rates were registered in the Northeast, where they averaged 6.8%. In the Mid-Atlantic region retail cap rates averaged 7.7% in July 2009.
In terms of retail property pricing, RCA reported the highest average prices of $290 and $186 per square foot in the Southwest and the Northeast, respectively, as of July 2009.
The lowest retail property prices are reported for the Midwest, where they averaged $67 per square foot.
Retail property prices in the Mid-Atlantic, Southeast and West averaged $156, $131 and $183 per square foot, respectively, in July 2009, according to the RCA data.
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