Why Puerto Rico
Nationwide rents and occupancy levels continued to increase, extending the seven year streak of growth we have seen and while these levels are getting close to pre-recession highs, the run-up has been much more measured and the pipeline of new product remains limited. Capital Markets activity has continued to decline in the retail sector, with almost 50% of the volume in 2017 and 2018 coming from corporate acquisitions and mergers rather than asset sales.
The Puerto Rico market experienced increased vacancy rates beginning in 2010 and has continued a slow erosion.
Leasing activity has picked up since Hurricane Maria but not to prerecession levels with most activity coming from local version national or international retailers.