Commercial Real Estate Research & Forecast Report
Q2 2022 Columbia Retail
An emerging trend is “micro-concepts” of larger brands, such as Buffalo Wild Wings. The micro-restaurant is a smaller version of a larger restaurant approximately 1,200 to 1,500 square feet. This trend allows restaurants to adapt to smaller, more efficient stores with an emphasis on carry-out options.
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- Micro-concepts are an emerging trend for restaurants
- Columbia retail vacancy rates remain below 5%
Interest in retail space of all types remains strong from both local and national tenants. However, the upfit cost is a major hindrance to new retail development. Restaurant tenants have shown a clear preference for second generation space over new construction.
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