Retail Market Survey: Shreveport-Bossier City, LA
Stirling Properties releases its Shreveport-Bossier City Retail Market Survey for mid-year 2018.
According to the assessment—compiled by Stacy Odom and Karen McElroy, Broker Associates with Stirling Properties—the Shreveport–Bossier City retail sector is currently in the midst of a recovery phase. After experiencing a period of increased retail vacancy, the area is seeing the entry of new discount retailers, new-to-market retailers and food concepts, as well as multi-store operators gobbling up available inventory of second-generation space. Without notable new development in the market, this aids in decreasing vacancy rates, particularly among neighborhood shopping centers.
The retail market survey identified a total of fifty-seven (57) multi-tenant retail centers with a minimum of twenty thousand (20,000) square feet in Shreveport-Bossier City with 90% total occupancy as of mid-year 2018.
Looking to the future, the emergence of healthcare facilities in retail settings and the potential for mixed-use redevelopment projects backfilling big-box stores are both noteworthy national trends expected to influence the Shreveport-Bossier City market, possibly having an additional impact on retail space moving forward.
Click here to view and download the complete Shreveport-Bossier City Retail Market Survey.
This report is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (20,000) square feet. It was created to be a resource for agents as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Shreveport-Bossier City retail market.
Shreveport-Bossier City Retail Market Survey Mid-Year 2017
Stirling Properties is pleased to present the Shreveport-Bossier City Retail Market Survey for the Mid-Year of 2017.
This report, compiled by Stacy Odom and Karen McElroy, Broker Associates of our Shreveport office, is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (20,000) square feet. It was created to be a resource for agents as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Shreveport-Bossier City retail market.
Retail Market Assessment
Recent years have brought a new level of grocery competition with the opening of two (2) Kroger Marketplaces, Whole Foods, and a number of Walmart Neighborhood Markets to the Shreveport-Bossier City area. Also notable for 2017 has been the addition of two (2), new home goods retailers, At Home and HomeGoods. The location of these two (2) additional soft goods stores continues to solidify the importance of Youree Drive, Shreveport’s major retail corridor. Also, T.J.Maxx has opened its second location in the MSA along Bossier City’s major retail corridor, Airline Drive. There continues to be an influx of new food concepts entering the Shreveport–Bossier City MSA. So far this year, our market has seen new openings of Chicken Salad Chick, la Madeleine, First Watch, The Halal Guys, Pita Pit and Larry’s Pizza. FD’s Grillhouse, Pizza Rev, and CC’s Coffee House stores are under construction. Additionally, the openings of locally run restaurants are on the rise and occupying available, second generation spaces.
Shreveport-Bossier City Retail Market Survey July 2017
Stirling Properties is pleased to present the semi annual Shreveport-Bossier City Retail Market Survey. This report, compiled by Stacy Odom and Karen McElroy, of our Shreveport office, is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (20,000) square feet. It was created to be a resource for agents as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Shreveport-Bossier City retail market.
Retail Market Assessment
Shreveport-Bossier City’s retail sector grew by eight percent (8%) since 2015 with the opening of three (3) grocery anchored community shopping centers – two (2) Kroger Marketplace anchored centers in Shreveport and Bossier City and a Whole Foods anchored center in Shreveport. The retail market is healthy as evidenced by the Community Shopping Center category which shows an increase of approximately 580,000 square feet with their occupancy rate remaining stable at 92%. Although the Neighborhood Shopping Centers experienced a large drop of occupancy to 77% due to the closures of Rite Aid and K-Mart, this vacancy was offset by occupancy increases in Specialty Shopping Centers and Regional Malls. With the addition of over 580,000 square feet of new construction and the proposed demolition of approximately 25,000 square feet at Bayou Walk Shopping Center in Shreveport, year-end 2016 net absorption was approximately 417,000 square feet for our retail market. Shreveport-Bossier City’s overall retail occupancy rate has remained relatively stable at 88% at year-end 2016.
