Providence Group Sees Strong Retail Momentum

Charlotte-based The Providence Group executed 22 retail transactions totaling more than 250,000 square feet in more than 20 markets across the Carolinas. In 2023, The Providence Group executed more than 180 retail brokerage transactions across its core Carolinas markets, totaling $260 million in transaction value.

The latest quarterly retail activity involves deals with national retail brands Homesense and Marshall’s in West Fayetteville, NC; Nordstrom Rack in Matthews, NC; Burlington in Wilson, NC; Five Below in Mooresville, NC; Planet Fitness in Lincolnton, NC; Two Buck Saloon in Charlotte, NC; and Aldi in Irmo, SC. 

The Providence Group’s Darren Wood said, “Retailers continued to remain active as we came out of the 2023 holiday season and launched into a new year. We are seeing national retail brands and restaurants seek out suburban locations largely because sales in prime locations have stayed strong and supply is short with less new construction. Remote work patterns have become the new normal also helping restaurant business in the suburbs.”