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Brokers, owners and developers active in the Mid-Atlantic’s retail sector describe a market buoyed by a strong consumer base, though the landscape varies somewhat across urban and suburban areas.  Even as the Mid-Atlantic contends with higher interest rates and a drop in daytime traffic within urban centers as a result of new work-from-home practices, retail in the region continues to shine. According to sources interviewed for this article, the market — despite these economic headwinds and uncertainties — is thriving and as strong as ever. As Richard Lake of Roadside …

Despite solid fundamentals at retail centers, investors are waiting for certainty in values, capital markets to transact. The U.S. retail market is currently on a long stretch of rock-solid performance at the property level. The national vacancy rate is at a healthy 4.1 percent, according to first-quarter 2024 research from CoStar Group. This comes one quarter after a stellar 4 percent vacancy rate at year-end 2023. What’s more is net store openings are on pace to be positive for the third consecutive year, according to research from Cushman & Wakefield. …