Brief | Intelligent Investment

Expansion Trends & Emerging Markets

Retailers are finding success in secondary and tertiary market expansions

May 15, 2024 3 Minute Read

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Retailers looking for expansion are turning to secondary and tertiary markets due to limited available space in primary markets like Philadelphia. These outer markets offer a fresh customer base and less-expensive rents due to lower land costs and more availability for development. As a result, occupancy levels in outer markets are rising. This is garnering attention from investors, especially REITs and institutional investors. CBRE predicts continued growth in these outer markets, offering more opportunities for retailers and investors.