The West Michigan retail sector has reached pre-pandemic vacancy levels and tenants and retailers are feeling optimistic about the future.
In Q3, the West Michigan market has capitalized on increased confidence after a tumultuous couple of years in retail, with tenant moveouts and closures, high vacancies and low demand. With historically low construction within the last year, improved demand this year has helped decrease the vacancy rate. Inflation continues to impact the retail sector and is driving consumers to be cautious about how and where they spend.
With much to look forward to, the West Michigan retail sector has shown its resilience, and customers have demonstrated their commitment to the local market.