Southern New Hampshire Retail Highlights

Southern New Hampshire Retail Highlights Information is accurate as of Q4 2016:

Supply: 29.8M Sqft; Down from 29.9M in 2015

Absorption: -366,100 Sqft; Down from 283,300 Sqft in 2015

Vacancy Rate: Increased to 10.5%; 2015 vacancy rate was 9.6%

City/Town Ranks:  #1 Amount of Retail Space- Nashua

                                #1 Highest Occupancy-Salem

                                #1 Highest Vacancy Rate-Seabrook

Retailer Expansion by SQUARE FEET: #1-FitLab Fitness Club (86,400 Sqft.)

Retailer Expansion by NUMBER of STORES: #1-Mattress Firm/FitLab (5+ each)

Category Expansion by SQUARE FEET: #1-Grocery Stores (+76,300 Sqft)

Category Expansion by NUMBER OF STORES: #1- Medical/Dental Services (+6)

Summary: 

   

Category                                       2016                          2015                    %Change

Total Market Size (Sq ft)                29,830,500                29,939,900            -0.4%

Total Number Retail Properties      2100                          2100                       0.0%

Total Number Retail Est.                5300                          5400                       1.9%

Retail Store Avg Size                    5600sqft                     5600sqft                 0.0%

Total Market Vacancy Sqft             3,131,800                  2,875,100               8.9%

Vacant Stores                                779                           695                        12.1%

Vacancy Rate                                10.5%                       9.6%                        9.3%

The vacancy rate in the region increased from 9.6% in 2015 to 10.5% at the end of 2016, falling back to 2014 levels. However two-thirds of the increase in vacant square feet resulted from the closing of four (4) Sports Authority stores totaling 170,200 sq ft. Net absorption for the year was a negative 366,100 square feet.

Written by David DeLise, COO, NAI Norwood Group, ddelise@nainorwoodgroup.com