Retail leasing and sales activity continues to increase across North America
SAN FRANCISCO, August 1, 2012 – X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, released second quarter transactional volumes for the alliance totaling more than $740 million. X Team International President John Cumbelich made the announcement.
During the second quarter of 2012, the alliance reported combined results of retail leases and sales totaling $744,434,965. Leasing activity accounted for 71.3 percent of the total transactional volume, or $530,964,674, with more than 8.7 million square feet of retail space absorbed across major metropolitan retail markets in North America.
Second quarter sales transaction volume totaled $213,470,291, an increase of 19.3 percent over the prior period. These sales consisted of 1,390,775 square feet of building sales plus more than 70 acres of commercial land sales. Total square footage sold saw a sharp increase of 53.1 percent over the first quarter.
Throughout the first two quarters of 2012, the alliance experienced a transactional volume totaling more than $1.53 billion. Lease transaction volume alone accounts for more than $1 billion for the first half of the year, with a year-to-date sale transaction volume of $385,613,491. More than 13.83 million square feet of space has been leased or sold, including more than 180 acres of land sales, during the first two quarters of 2012.
“We continue to see retailers increasing their activity in every major market we represent across North America,” said Cumbelich. “We’ve helped many of them move more than 13 million square feet of retail space worth over $1.5 billion in just six months. We anticipate even more activity from expanding retailers throughout the second half of the year.”
About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.