Hampton Roads Retail Figures Q4 2025

Overall retail vacancy across the Hampton Roads market remains steady at just 4.5%, up only 10 basis points (bps) from the prior quarter. Leasing activity slowed slightly, with 129 transactions totaling 485,998 sq. ft.

The largest lease during the fourth quarter was a renewal/contraction by Burlington Coat Factory at 103 Market Place Drive. The retailer is reducing its footprint in the shopping center and remodeling the storefront as part of a national renovation initiative that emphasizes smaller floorplans, new layouts, and refreshed branding.

The fitness sector was also active during the quarter, with Planet Fitness signing a new lease for 29,293 sq. ft. at 456-476 Wythe Creek Road in Poquoson. They will occupy the anchor space at Poquoson Shopping Center and are expected to open for operation in early 2026. Additionally, Palace of Pickleball is opening it’s first location, leasing 17,728 sq. ft. at 4239 Holland Road in Virginia Beach. The indoor pickleball court facility is expected to open in 2026 and will offer both memberships and open-play opportunities.