2019 Mid-Year | Eastern Pennsylvania, Southern New Jersey, and Delaware

Key Trends:

  • The regional vacancy rate dipped during the first two quarters from 9.1% to 8.1%
  • The wave of chain store liquidations persisted, but there were fewer new anchor vacancies.
  • Rents remained stable despite fluctuating vacancy.
  • The investment market was more active during the first half for prime centers and redevelopment opportunities.

A lull in big box store closings allowed the market to absorb vacancy during the first half of 2019. Payless, Dress Barn, Charlotte Russe and Gymboree joined the list of retailers shutting operations, but these stores will not have as large an impact on vacancy.