Richmond Year-End Market Snapshot
For the first time, Cushman & Wakefield | Thalhimer has released a Year-End Market Snapshot in advance of our full MarketBeat reports. As the market leader, we understand that our clients turn to us not only for transactional assistance but also to keep abreast of the latest news about the market. Fundamentals across all markets – retail, office and industrial – are at or nearing peak strength. Richmond’s retail vacancy declined by 50 basis points and rents increased by 4.6%. Downtown Richmond’s office vacancy slid into single digits in 2017, while overall office vacancy in the River City declined to 7.1%. Absorption in Richmond’s industrial market in 2017 was up significantly, more than 130% from 2016.