2024 Year-end Retail Market Report (email required for download)
THE RETAIL MARKET
Numbers don’t always lie, but they often keep a lot to themselves. A lot is going on in retail, but it’s hard to tell from the numbers. Market vacancy came in at 8.9 percent at end of year 2024, virtually unchanged from a year earlier, despite all kinds of activity. Store closures have probably gotten the most attention. Over 7,500 stores closed this year led by Family Dollar, CVS, Big Lots and Conn's. The amazing part of this is that vacancy didn’t change much either locally or nationally, signaling both the overall health of retail and the ongoing demand for space, especially well-located space. A contributing factor has been limited new construction due to higher costs of both construction and capital, making it hard to pencil deals... Read More
