Gainesville retail market report
Q1 2023
Gainesville’s retail market fundamentals remain strong as the vacancy rates outperform the national average. High demand has driven asking rates up significantly year-over-year. Investment sales during the first quarter of 2023 nearly doubled 2022’s first quarter volume.
Vacancy
Amid economic headwinds, the Gainesville retail market remains resilient with the vacancy rate holding strong at 3.4%, 80 basis points lower than the national average.
Asking rent rates
Asking rates for retail assets continued to climb throughout 2022 and have increased 16% year-over-year as of the first quarter of 2023.
Sales volume
Retail investment sales in Gainesville had the strongest performance on record during the first quarter of 2023, totaling $41.5 million in transaction volume, nearly doubling 2022’s first quarter volume.
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