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Retail Information

Download the 2019 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 data gathered in the compilation of last year’s Retail Market Survey indicated that while
the Tyler market experienced a growth in the amount of vacant space available in 2018, lease
rates decreased. These trends have been reversed in 2019 and the market seems to be headed
in a more positive direction.
 
In 2018 the vacancy rate stood at 16% and the average asking lease rate had dropped to $17.42
per square foot. The 2019 survey shows that the vacancy rate has dropped to 11% and the
average lease rate is up slightly to $17.47 per square foot.
 
The biggest changes were the result of a decrease of 54,000+ square feet in the amount of
available space at the Village at Cumberland Park, and the leasing of the 101,102 square foot
former Macy’s building located at 4700 S. Broadway.
 
As a result of the improved leasing performance, the amount of available retail space in the city
dropped by over 191,000 square feet.
 
The majority (forty four) of the eighty two properties surveyed are enjoying occupancy rates of
ninety percent or higher, while thirty of the retail centers are one hundred percent occupied at
this time.
 
Tyler’s location provides a retail trade population in excess of 500,000 within a fifty mile radius.
This provides local retailers with the largest number of potential shoppers in all of East Texas.
While many of the smaller communities in East Texas are experiencing rapid population
increases, these towns do not have enough residents to support large retail chains. As a result,
these chains tend to come to Tyler to tap the East Texas market, making the Tyler retail leasing
market the strongest in the East Texas area.
 
We thank all the property owners, managers, and leasing agents who supplied the data
necessary for us to complete this report. Special thanks to Rebecca Hitt of the Burns
Commercial staff for compiling the information.
 
Taylor Burns

 

RETAIL COACH

Primary Retail Trade Area Demographic Profile January 2015

Community Demographic Profile January 2015