Madison Retail MarketView H1 2020
10 sep. 2020
• The multi-tenant vacancy rate increased since H2 2019, to 6.7%. The combined (single-tenant and multi-tenant) vacancy rate increased to 4.7%.
• Retail sales volume was $38.5 million, down from $73.2 million in the second half of 2019.
• Although slowing, retail sales continue to be one of the bright spots for the Madison market, with over $404.8 million in sales and 4.0 million sq. ft. of space sold since the beginning of 2017.
• Along with an already shifting retail landscape, COVID-19 has had an affect on retail market fundamentals, a trend which looks to continue into the foreseeable future.