Gainesville retail market report
Despite rising economic concerns, Gainesville’s retail market remained strong throughout 2022. Total leasing volume rose to its highest point since 2017, and investment sales broke records at $158.8 million for the year. If positive market conditions continue, the retail market will most likely tighten in 2023.
An increase in demand resulted in Gainesville’s retail leasing activity growing by 36.3% year-over-year, reaching the highest point since 2017.
Retail worker wages in the market have experienced an increase of 14.4% since 2021.
Gainesville’s unemployment rate hit 2% in December, down 40 basis points from 2.4% one year prior.
Market fundamentals remain strong, keeping vacancy tight at 3.3% at the end of 2022, an increase of only 40 bps from 2021.
Direct asking rent
Direct average asking rent stayed about the same as year-end 2021, decreasing by just 1%.
With rising inflationary pressure, the average price per square foot in Gainesville increased by 5.2% to $243 psf from year-end 2021.
Your source for the latest Gainesville retail market reports
Get in-depth retail market reports and insights from commercial real estate experts in the Greater Gainesville area. Avison Young advisors look at Gainesville commercial real estate activities and the latest Gainesville statistics to provide you expert market research on Gainesville's retail properties.
Explore different topics like the latest retail market pricing trends and analysis of Gainesville's current retail real estate market conditions. Gain a better understanding of Gainesville’s retail real estate outlook and stay ahead of current retail space trends. Make smart decisions when it comes to investing in retail properties in Gainesville's competitive retail real estate market. Avison Young is your trusted source for commercial real estate retail market insights in Gainesville.
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