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Retail Information

Download the Retail Market Survey Here

The Retail Market Survey is an annual publication produced by Burns Commercial Properties. The Survey reviews the availability and demand all retail real estate in Tyler, TX

Retail owners interested in acquiring operating space will find the survey an excellent tool for comparative research of lease rates and options. The survey can be downloaded by clicking the document on the left or can be viewed at the Burns Commercial Properties.


 

OVERVIEW

The 2016 edition of the Burns Commercial Properties Retail Market Survey contains data which indicates that the Retail sector continues to be the strongest category in the local commercial property market.
 
The construction of new retail space has continued in the past year, with over 230,000 square feet of space being added to the market during this period. In spite of the completion of additional space, the occupancy rate remained virtually unchanged, coming in at 87.5% just below the 87.8% level achieved in last year’s survey.
 
Of the sixty eight centers surveyed, forty one (sixty percent of the total) of these enjoyed occupancy rates of ninety percent or higher. Twenty four properties quoted a one hundred percent occupancy level. A large portion of the vacant space is located in centers constructed prior to 1990.
 
The strong demand from retailers for space in the Tyler market has resulted in an increase in the quoted rental rates from an average of $15.73 per square foot in 2015 to $16.83 in 2016.
 
The survey covers only multi-tenant retail centers and does not include Broadway Square Mall. Additionally, it does not include single tenant free-standing buildings. A large portion of the grocery stores and restaurants typically occupy properties which fall into this category. A number of single tenant retail and restaurant buildings have been constructed in Tyler in the past twelve months, including two WalMart neighborhood markets and a Super One grocery.
 
Tyler has enjoyed a reputation as a market which produces a high level of retail and restaurant revenue per capita. The fact that a significant number of non-Tyler residents enter the market to shop and to visit the local restaurants has resulted in a strong demand from retailers of all types. Tyler has established a position as the retail leader in the eastern portion of Texas and is receiving an increasing amount of attention from national and retail chains.
 
Thanks to the owners and Property Managers who contributed the data necessary to complete this report and to Peggie Jenkins, who compiled the information.
 

Taylor Burns
Burns Commercial Properties

 

RETAIL COACH

Primary Retail Trade Area Demographic Profile January 2015

Community Demographic Profile January 2015