2011 Hampton Roads Real Estate Market Review - College of ...
2011 Hampton Roads Real Estate Market Review - College of ...
2011 Hampton Roads Real Estate Market Review - College of ...
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<strong>2011</strong> R E TA I L<br />
Big Box Vacancy<br />
Big Box Vacancy in <strong>Hampton</strong> <strong>Roads</strong> decreased in 2010 to 1,717,593 square feet, a decrease <strong>of</strong> 373,805 square feet<br />
over last year’s numbers. This number represents 37% <strong>of</strong> the total retail vacancy in the market. We did see some Big Box activity<br />
this past year. Wal-Mart is under construction at Edinburgh in Chesapeake on a site purchased in 2009 and Restaurant<br />
Depot opened in the former Value City on Virginia Beach Boulevard.<br />
Big Box Vacancy<br />
4,000,000<br />
Vacant Square Feet<br />
3,500,000<br />
3,000,000<br />
2,500,000<br />
2,000,000<br />
1,500,000<br />
1,000,000<br />
500,000<br />
0<br />
Southside<br />
Peninsula<br />
TOTAL<br />
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010<br />
Big Box Vacancy<br />
2004 2005 2006 2007 2008 2009 2010<br />
Southside 1,513,523 1,142,319 957,887 948,288 907,688 1,102,093 880,568<br />
Peninsula 1,141,207 982,263 819,163 827,360 880,805 989,305 837,025<br />
TOTAL 2,654,730 2,124,582 1,777,050 1,775,648 1,788,493 2,091,398 1,717,593<br />
<strong>2011</strong> RETAIL<br />
19
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