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Retail construction pulls back

Despite sustained demand, new project economics remain strained
An increasingly rare sight: a new neighborhood retail center under construction. The Portico at Shaenfield is expected to open in San Antonio, Texas, sometime in the second quarter of 2026. The new development was 54.4% leased as of early April. (CoStar)
An increasingly rare sight: a new neighborhood retail center under construction. The Portico at Shaenfield is expected to open in San Antonio, Texas, sometime in the second quarter of 2026. The new development was 54.4% leased as of early April. (CoStar)
CoStar Analytics
April 6, 2026 | 8:36 P.M.

The amount of available retail space remains very limited across most U.S. markets, with few vacancies, not many move-in-ready locations and steady demand from businesses continuing to push rents higher.

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