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2020 Q4 Greater Philadelphia Retail Report

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By Rose Penny

Regional Retail Market | Overview

Key Trends

  • The regional vacancy rate increased to 10% during the last of 2020, the highest level in over a decade.
  • The bankruptcy of 27 chains with regional locations resulted in multiple vacancies.
  • Asking rents have remained stable, but there is greater flexibility in signing rents due to fewer active prospects.
  • Investment volume was down by 25% from 2019.

The region’s shopping centers were already challenged coming into 2020. The lockdown measures due to the pandemic added another layer of stress to retailers.

 

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2020 Q4 Greater Philadelphia Retail Report

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Rose Penny | Colliers | Philadelphia

Rose Penny

Market Research Director | Philadelphia

Philadelphia

+1 215 928 7505
+1 215 313 7293
Email

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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