Appendix | 185
Southside and Deep Creek Submarket Retail Markets
Despite a brief uptick in retail activity in 2007, the Deep Creek
Submarket has experienced little change in the past six
years, absorbing a total of 38,000SF and delivering
35,000SF. The only proposed future retail development, a
power center, is located at the northern portion of Dominion
200,000
250,000
2006-2013 Avg. Absorptions:
38,000
2006-2013 Avg. Completions:
35,000
Retail Absorption vs. Completions
Deep Creek Submarket; 2006-2014 YTD
Boulevard.
In the Southside of Hampton Roads, retail vacancy is high for
regional malls, which comprise 20% of retail square footage.
Neighborhood centers and power centers, accounting for
one-third of total retail square footage, are very well occupied.
50,000
100,000
150,000
-50,000
0
2006 2007 2008 2009 2010 2011 2012 2013 2014
YTD
Absorption Completions
Source: CoStar
30%
35%
40%
45%
800 000
1,000,000
1,200,000
Retail Vacancy SF and Rate by Type
Southside of Hampton-Roads; 2012
SF of Current Retail Mix by Type
Southside of Hampton-Roads; March 2014
21%
7%
0%
5%
10%
15%
20%
25%
-
200,000
400,000
600,000
,
19%
24%
9%
20%
Vacant SF Vacancy %
General Retail
Community Center
Neighborhood Center
Power Center
Regional Mall
Strip Center
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
40
Source: CoStar
Source: ODU CREED; CoStar
