2018 Year End Greater Philadelphia Retail Report

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Regional Retail Market | Overview

Key Trends

  • The regional vacancy rate has been steadily climbing, reaching 9.2% at the end of the fourth quarter.
  • Vacant anchor stores continue to pose challenges for owners.
  • Asking rents have remained stable, but may begin to trend downward for centers with persistent vacancies.
  • Investment sales volume was very limited for the year.

Another round of Sears and Kmart closures (on top of those shut earlier in the year) along with the Bon-Ton store shutterings added more large format supply to the regional market. Malls continued to be hardest hit, and vacancy increased by over two percentage points to 12.4%.


2018Q4RetailPhiladelphiaReportSearchCard

2018 Year End Greater Philadelphia Retail Report

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