Shopping center property net absorption in the U.S. 2022-2023, by market
Houston and New York City were the markets with the highest net absorption of shopping center real estate in the United States in the first quarter of 2023. In Houston, nearly 647,000 square feet of space were absorbed in that quarter. The net absorption is calculated by subtracting the sum of square feet that became vacant from the sum of squared feet that became occupied in a certain period of time. A negative figure shows that more space was vacated than occupied. In the U.S., the shopping center absorption saw an overall decline in the first quarter of 2023.
