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2021 Q4 Greater Philadelphia Retail Report

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Regional Retail Market

Key Trends

  • The regional vacancy rate increased from 9.2% at the end of 2020 to 9.5%, but vacancy appeared to be leveling off for the near term.
  • Retail chain bankruptcies and mass store closings slowed, and consumers returned to in-person shopping.
  • Investment volume increased sharply during the second half of the year.

Although at the highest level in a decade, the region’s shopping center vacancy ended 2021 only minimally higher than at the end of 2020. There were no new major anchor vacancies, and the number of chain store closings had less of an impact than in the previous two years.

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2021 Q4 Greater Philadelphia Retail Report

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Related Experts

Rose Penny

Market Research Director | 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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