Retail in Washington stayed fairly stagnant for Q3. Vacancy rates continued to rise. Mortgage rates dropped momentarily and then increased as a surprise to most of us and cap rates hovered right above 6%. Sales activity was slow as rumors of rate drops have been pushed out months or potentially longer. Brokers are optimistic about a strong finish to 2025 and a super active 2026. As rates drop, we feel that interest in buying will shoot up as there is a lot of money currently sitting on the sideline.