Number of the week in Hampton Roads business: 4 million

Tara Bozick, The Virginian-Pilot
·1 min read

4,006,222 — That’s how many square feet of retail space in Hampton Roads was vacant as of late last year, according to a recent Norfolk retail market report by Colliers International.

That represents a 6.7% vacancy rate out of 59.57 million square feet of inventory in 775 properties in the region, according to the fourth quarter report. Of the vacant retail space, 2.56 million was in South Hampton Roads and 1.45 million was on the Peninsula.

This is on par with last year’s fourth quarter vacancy rate of 6.4% in 58.9 million square feet of retail space in 770 properties, according to Collier’s 2019 fourth quarter report.

— Tara Bozick, staff writer