Bakersfield City Council unanimously approves zoning change for Riverview Marketplace shopping center

Why this matters

Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.

Editorial analysis · Real Estate Trail Editorial

On the RET wire

• Disclosed retail deal value tracked in November 2026: $1.3B across 17 reported transactions. All Retail coverage →

Computed from Real Estate Trail’s own tracked coverage

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