RETAIL – Key Metrics
RETAIL INVENTORY
24.5M
23.5M
22.5M
20.83M sq/ft
21.5M
20.79M sq/ft
20.5M
19.5M
18.5M
17.5M
2021
2022
2023
2024
Source: Colliers
Overall inventory of retail space declined less than a percentage point to 20.79 million square feet in Q1 2024 compared to 20.83 million square feet in the same quarter of 2023. Current inventory levels are equal to those of mid- to late- 2021. Retail submarkets including 28th Street SW, Alpine Avenue, and Rivertown Parkway gained inventory from Q1 2023 to Q1 2024. Submarkets including 28th Street SE, East Beltline, and Plainfield Avenue/Northland Drive recorded declining inventories during the same period.
RETAIL VACANCY
10.0%
8.0%
6.0%
4.9%
4.8%
4.0%
2.0%
0.0%
2021
2022
2023
2024
Source: Colliers
Retail vacancy rates declined to 4.8% in Q1 2024 from 4.9% in Q1 2023 and 6.2% in Q1 2022.
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STATE OF DEVELOPMENT – DIVING DEEPER
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