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.
The historic level of individual discretionary savings in recent years catapulted consumer spending and e-commerce sales to new highs. Fueled by the demand surge and 1%-interest loans in the form of government Paycheck Protection Program loans, retail companies accelerated their expansions by opening new locations across the country, including the Philadelphia metropolitan area.
For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.
Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.
