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2020 Q4 Retail Cleveland Report Colliers

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Cleveland/Akron Retail Market Evolves to Meet Consumer Needs

Market fundamentals for the Cleveland/Akron retail market continued to weaken as the disruptive impact of the COVID-19 pandemic drove both temporary and permanent store closures. The market posted its third consecutive quarter of negative net absorption, primarily in the regional and neighborhood center sectors. A loss of 471,957 square feet resulted in an increase in vacancy of 40 basis points (bps) to 8.8%.

 

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2020 Q4 Retail Cleveland Report Colliers

Download Report