DOMINION BOULEVARD CORRIDOR STUDY | Chesapeake, Virginia
184 | Appendix
Overall Retail Market
Map of Deep Creek Retail Submarket and Study Area
The MSA retail market did not suffer as much as other land uses during the
recession, whereas the submarket saw a sharp decline in rents and a quick
recovery. Vacancy in the MSA rose slightly during the recession, from 4% to
7%, and has remained flat at 7%. The submarket reduced vacant inventory
during the downturn and from 2008 to 2013 has closely mirrored the MSA’s
Deep Creek
Submarket
Study Area
,
level of vacancy.
16%
$20
Retail Asking Rent and Vacancy
Deep Creek Submarket and MSA; 2005-2013
Map of Virginia Beach-Norfolk-Newport News, VA-NC MSA
10%
12%
14%
$12
$14
$16
$18
2%
4%
6%
8%
$4
$6
$8
$10
0%
$0
$2
2005 2006 2007 2008 2009 2010 2011 2012 2013
Deep Creek Rent (NNN)
MSA Rent (NNN)
Deep Creek Vacancy
MSA Vacancy
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
39
Source: Esri; CoStar
Source: Esri; CoStar
