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.” 

The medical office market in the Tri-State New York metro area, encompassing NYC, NJ, CT, and Long Island, displays diversity, with strong demand and unique structural characteristics in each locality, according to JLL’s TriState medical office report. 

In Manhattan, medical offices are typically situated within mixed-use buildings, offering convenience in the bustling urban landscape. Conversely, the Outer Boroughs feature a combination of spaces in mixed-use and standalone buildings, primarily in less densely populated neighborhoods. Manhattan commands higher rents due to its central location and density, while less dense areas provide more affordable alternatives. 

Furthermore, with individuals over the age of 55 constituting 30% of the U.S. population and the elderly population aged 80 and above expected to grow by 50% within the decade, there is a projected significant increase in demand for outpatient healthcare services. In the Tri-State area alone, outpatient demand is anticipated to grow by 6-10% over the next five years across much of the region.