Skip to main content Skip to footer

2021 Q3 Retail Market Trends

Download Report
Grand Rapids header image
Retailers across multiple commercial real estate markets are continuing to feel a recovery after a tumultuous year-and-a-half caused by the COVID-19 pandemic. Heading toward the holiday season, optimism is in the air. In Q3, several new stores and restaurants were announced, and demand could be seen for land development sites for multifamily and senior housing that also include retail spaces. High quality retail spaces in prime locations continue to be the most in demand. Both tenants and buyers were active with inquires and leasing or sale negotiations. Retail and restaurants continued innovating toward omni-channel delivery models, especially in food services like grocery and take-out. While the situation has improved, there is still uncertainty as the Delta variant causes a large increase in COVID-19 cases and causes people to be less willing to go out. For now, retailers and restaurants are taking precautions into their own hands, like requiring mask wearing and continuing to social distance. They are also facing severe staffing shortages which adds to uncertainty. Additionally, supply of product/merchandise to various stores could be a problem with upcoming holiday sales.  

Grand Rapids Search Card Image

2021 Q3 Retail Market Trends

Download Report
Related Experts

Shawn OBrien

Vice President

Lansing

I service the Greater Lansing Area. With over two decades of commercial real estate experience, I bring a background of retail property sales and leasing, land brokerage, and investment properties throughout Mid-Michigan. Previously, I was a senior vice president for a Lansing-based commercial real estate firm for 19 years. At Colliers, I specialize in brokerage sales/leasing, site selection for retail, mixed-use properties, and land. I also provide brokerage and development consulting, acquistion, or disposition of investment properties throughout Michigan. 

View expert

Amy Richter-Perkins

Associate Vice President

Lansing

I joined Colliers in 2020, bringing extensive commercial real estate experience. Throughout my career and over the past twenty years I have provided services to retail, restaurant, and shopping center owners throughout Mid-Michigan. I am an expert in shopping center and retail leasing, new business development, seller and buying representations, tenant advisory and site selection throughout Michigan.   

View expert