Retail Has Become One of Real Estate's Best Performing Asset Classes
Retail has delivered strong total returns, outperforming other major real estate sectors over the past 10 years.
WHY HAS RETAIL OUTPERFORMED?
Retail has consistently delivered strong risk-adjusted returns and remains one of the highest performing sectors in real estate over the long term.
Supply Hasn't Kept Up With Demand
For more than a decade, very little new open-air retail has been developed in the United States. Meanwhile, retailers continue to expand, driving occupancy to record levels.
KEY TAKEAWAYS
remains historically low
Retailers continue
opening stores
Existing centers
become increasingly valuable
Limited supply
creates pricing power
When demand grows faster than supply, quality assets become increasingly valuable.
Limited Supply Creates Pricing Power
High occupancy and limited competition have allowed landlords to achieve some of the strongest rent spreads in decades. This drives meaningful NOI growth- expected to continue.
Record Occupancy
Occupancy rates near historical highs.
Tenants are paying significantly higher rents at renewal.
Strong rent growth translates into higher NOI and distributions.
Investors continue allocating capital
to retail.
Retail Is Still Where America Shops
Retail remains the heart of how Americans live and spend. Stores are evolving becoming more productive and essential than ever before.
Omnichannel Makes Physical Stores More Important Than Ever
80%+
Retail sales still occur inside physical stores.
Brick-and-mortar remains the primary channel for the majority of U.S. retail sales.
91%
Consumers shop across multiple channels.
Consumers engage with retailers in multiple formats throughout their shopping journey.
50%+
Buy Online, Pick Up In Store (BOPIS)
Over half of U.S. consumers use BOPIS, making physical locations an essential part of the experience.
37%
Opening a physical store increases online traffic.
Opening a new physical store increases surrounding online traffic by 37%. Source: Capital One Shopping (2026)
Why Retailers Continue Expanding
Leading national retailers are investing billions to open new stores across the country.
These retailers continue investing millions in new stores
because physical retail remains the foundation of omnichannel commerce.
Today's stores generate sales, fulfill online orders, process returns, and strengthen customer relationships- all while serving as critical last-mile distribution hubs.
The Big V Difference
Institutional Market Selection
We invest only in dominant shopping centers located within high-growth markets.
Our in-house teams manage every aspect of the investment lifecycle.
A rigorous funnel ensures only the highest quality investments make it through.