Retail rents declined in the RETAIL TRIPLE NET (NNN)16 RENT PER SQUARE FOOT, RIVER <br />River Road/Santa Clara area ROAD/SANTA CLARA AREA AND EUGENE, 2000 TO 2019 YEAR TO <br />from 2006 to 2008 and have DATE <br />Source: Costar, Retail buildings, January 2019 <br />been largely flat since then. $25.00 <br />Retail rents city-wide also <br />remained relatively stagnant over $20.00 <br />the same time period with a slight <br />increase in the last two years. <br />One possible reason is a $15.00 <br />transition in the type of retail River <br />tenants in some of the spaces $10.00 Road/SCA <br />along River Road (e.g. Office Max rent per sq. <br />being replaced by an indoor ft. $14.51 <br />$5.00 <br />trampoline gym, which likely can't <br />afford as much in rent). Property <br />owners may be keeping spaces $0.00 <br />full by keeping rents reasonable, o`b oA o`b o°' 11; titi ti� ti( tit ti< ti`o tiA ti1b <br />and may not be able to raise do 00 0o Oo Oo00 00 00 00 00 T 00 00 <br />them appreciably without <br />compromising occupancy. River Road/Santa Clara area NNN Rent Direct <br />— — Eugene NNN Rent Direct <br />The River Road/Santa Clara RETAIL DELIVERIES AND ABSORPTION (SQUARE FEET), RIVER <br />area has had generally ROAD/SANTA CLARA AREA AND EUGENE, 2000 TO 2019 YEAR TO <br />DATE <br />positive retail absorption since Source: CoStar, Retail buildings, January 2019 <br />2013, with little new retail 80,000 <br />space delivered since 2009. <br />60,000 <br />40,000 <br />20,0000 � ' ' ■ <br />-20,000 <br />-40,000 <br />-60,000 <br />00 O, lb Q, 00 y0 titi 11, N ti� N N N N ti� <br />�O �O �O �O �O �O �O �O �O �O �O �O �O <br />■Deliveries SF ■Net Absorption SFTotal <br />16 Triple net rent refers to rent that does not include utility costs or other operating expenses — the tenant is <br />responsible for paying a proportional share of all expenses associated with occupancy of the building in addition to <br />the base rent. <br />ECONorthwest 35 <br />208 <br />