Philadelphia Retail Figures Report Q1 2025

While the Greater Philadelphia retail market posted negative net absorption during the first quarter of 2025, there was plenty of demand for this newly available space. While some retailers held back on expansion plans due to uncertainty in the economy, others jumped at recently or soon-to-be vacated real estate spurred by an increase in retailer bankruptcies and store closures that started slowly with giants like Bed Bath & Beyond and Rite Aid in 2023, hitting post-pandemic highs in 2024 and growing through the first quarter of 2025. As a new supply of desirable retail space hit the Greater Philadelphia market, several national retailers were waiting in the wings to snatch up this top-notch real estate.