The Center City District (CCD) and Central Philadelphia Development Corporation (CPDC) have released Center City Reports: Philadelphia Retail, a look at retail market trends in downtown Philadelphia. The report analyzes all the demand drivers for downtown retail and includes detailed data and demographics on Center City residents, workers, visitors and students, updated pedestrian traffic counts and a roundup of selected major retail developments in the pipeline.
From the changing retail mix along Rittenhouse Row to the expanding food and beverage offerings on East Market and Chestnut streets, Center Cityís retail landscape is being transformed and repositioned to meet the needs of the growing millennial population in Center City, while continuing to serve Philadelphia workers, residents and visitors.
Center City Districtís annual report on the state of downtown retail, released today, notes that Center Cityís retail market is experiencing the shifting dynamics affecting retailers everywhere but is faring far better: vacancy along prime retail corridors in Center City is just 5.4%. By comparison, Q2 2018 retail vacancies hit 10.2% nationally and 8.4% regionally.
For the full report, download
Center City Reports: Philadelphia Retail.
For a full selection of Center City District reports, visit CenterCityPhila.org/research-reports.
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