2019 Q2 Greater Philadelphia Retail Report

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Regional Retail Market | Overview

Key Trends

  • The regional vacancy rate dipped during the first two quarters from 9.1% to 8.1%.
  • The wave of chain store liquidations persisted, but there were fewer new anchor vacancies.
  • Rents remained stable despite fluctuating vacancy.
  • The investment market was more active during the first half for prime centers and redevelopment opportunities.

A lull in big box store closings allowed the market to absorb vacancy during the first half of 2019. Payless, Dress Barn, Charlotte Russe and Gymboree joined the list of retailers shutting operations, but these stores will not have as large an impact on vacancy.

 

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2019 Q2 Greater Philadelphia Retail Report

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Rose Penny

Market Research Director | Philadelphia

Philadelphia

Rose serves as Market Research Director at Colliers and is a member of the Colliers International Research Council.  She is responsible for the compilation, analysis, and dissemination of all market data for the firm.  She is also responsible Colliers Research Reports for Philadelphia, as well as detailed market studies on more than 500 million square feet of commercial real estate in Pennsylvania, New Jersey and Delaware.  Rose produces detailed demographic studies, maintains an extensive database of lease and sale transactions and assists in the preparation of tax studies and opinions of value.
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