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Added Population Spells Retail Growth

SCOTTSDALE, AZ—As demand for retail space continues to strengthen, high-end, well-located projects are poised to benefit, such as Silverstone Marketplace, a new grocery-anchored center that recently sold.

By Lisa Brown | lisabrown | Updated on August 15, 2016

Silverstone Marketplace is anchored by Sprouts Farmers Market.

SCOTTSDALE, AZ—Remarkable population growth has resulted in a positive job market, making the Phoenix retail market a strong candidate for sales activity. Vigorous leasing has resulted in boosted absorption, declining vacancy and an anticipated rise in rental rates. Much of the leasing activity is due to small shop space below 10,000 square feet, a positive sign that small businesses are gaining confidence and expanding or opening additional locations.

Ryan Amato of the Eisenberg Company tells GlobeSt.com: “A favorable job forecast, remarkable population growth and a rebound in new home construction have positively affected the Phoenix retail market.”

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