Mid-Atlantic Retail Figures Q3 2022

Despite widespread inflation and concerns of an economic downturn, retail sales across the country have been on the rise, due in part to post-pandemic spikes in consumer spending. Key retail corridors in the Mid-Atlantic region are reflective of this positive trend, as 95 new retail openings outpaced 60 retail closures since the start of 2022. As U.S. consumer spending improved by over 8% in the last year, many retailers anticipate long-term growth and, in turn, have opened new locations across the region, driving demand for space. Meanwhile, new consumer destinations within mixed-use developments such as The Wharf in Southwest D.C., Pike & Rose in Bethesda, and National Landing in Arlington, have continued to capture significant demand.