• Fri. Apr 19th, 2024

Steady Demand for Store Space Drives Philadelphia’s Retail Availability to New Lows

Bynewsmagzines

May 19, 2023
Steady Demand for Store Space Drives Philadelphia’s Retail Availability to New Lows

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Despite concerns of a retail apocalypse over the past decade from the threat of online shopping, which was heightened during the pandemic, recent leasing performance on the part of Philadelphia retailers tells another story. Retail space listed on the market in the Philadelphia region is now at 18.7 million square feet — 20% below the pandemic-level peak of 23.5 million square feet and 11% below pre-pandemic levels.

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