The below charts show the amount of available square feet of retail space for Fulton, Gwinnett, Cobb, and Dekalb Counties for the past 15 years. “Available square feet” in this case means the quantity of square feet available for lease or sale. This does not include any properties that are occupied and are not on the market.
Available square footage data is from CoStar Group
The available retail square footage in each of these counties has not been very consistent throughout the past 15 years. Overall, each county has had a pretty large increase in available space since 2005–anywhere from a 1.5 million to 3.5 million square feet increase. Each county seems to have had a peak around 2009 or 2010 (2012 for Cobb County) before decreasing again for a few years. These charts all show that the amount of available retail space has been steadily increasing for the past 3-4 years, well before the pandemic came into full force. However, each chart shows that the respective county has had a sharp increase in availability between March and June of this year. We know that many retail spaces have had to greatly change their practices, some even having to close for an undetermined time. As I’ve stated in previous posts, this greatly impacts company performance and may have played a part in the amount of available retail space, assuming some stores were unable to survive the closures.
If you haven’t already done so, be sure to check out the post about available square feet for office space!