The Loop endured its fourth straight annual vacancy rate increase in 2023, jumping to 30.13% in 2023 from 28.32% in 2022. Significantly, the vacancy rate has now doubled from its pre-Covid level of 14.92% in 2019. In the 22 years that Stone Real Estate Corp. has conducted its Annual Loop Retail Survey, the lowest recorded […]
Loop Retail Vacancy Tops 30% for the First Time
Nearly four years since the first lockdown of the COVID-19 pandemic, the number of empty storefronts in the Loop has surpassed a daunting threshold: More than 30% of the central business district’s retail space is vacant. The Loop retail vacancy rate increased for the fourth year in a row in 2023, rising to 30.13% from […]