Market Research brought to you by NAI Norwood Group

Southern New Hampshire Retail Highlights

04/06/2017
Published By: David DeLise
Southern New Hampshire Retail Highlights Information is accurate as of Q4 2016:
 
Supply: 29.8M Sqft; Down from 29.9M in 2015
Absorption: -366,100 Sqft; Down from 283,300 Sqft in 2015
Vacancy Rate: Increased to 10.5%; 2015 vacancy rate was 9.6%
 
City/Town Ranks:  #1 Amount of Retail Space- Nashua
                                #1 Highest Occupancy-Salem
                                #1 Highest Vacancy Rate-Seabrook
 
Retailer Expansion by SQUARE FEET: #1-FitLab Fitness Club (86,400 Sqft.)
Retailer Expansion by NUMBER of STORES: #1-Mattress Firm/FitLab (5+ each)
 
Category Expansion by SQUARE FEET: #1-Grocery Stores (+76,300 Sqft)
Category Expansion by NUMBER OF STORES: #1- Medical/Dental Services (+6)
 
Summary: 
   
Category                            2016                          2015                    %Change
Total Market Size (Sq ft)      29,830,500                29,939,900            -0.4%
Total Number Retail Prop     2100                          2100                     0.0%
Total Number Retail Est.      5300                          5400                     1.9%
 
Retail Store Avg Size          5600sqft                     5600sqft                0.0%
Total Market Vacancy Sqft   3,131,800                  2,875,100               8.9%
Vacant Stores                     779                           695                       12.1%
Vacancy Rate                     10.5%                       9.6%                       9.3%
 

The vacancy rate in the region increased from 9.6% in 2015 to 10.5% at the end of 2016, falling back to 2014 levels. However two-thirds of the increase in vacant square feet resulted from the closing of four (4) Sports Authority stores totaling 170,200 sq ft. Net absorption for the year was a negative 366,100 square feet.

Written by David DeLise, COO, NAI Norwood Group, ddelise@nainorwoodgroup.com

Release Date04/06/2017 - 02:46

Source

NAI Norwood Group

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