Report: Tampa No. 2 retail real estate market nationwide

Tampa has the second best retail market in the country, trailing only Charlotte, North Carolina.

That’s according to a report from CoStar, which ranked the top 43 U.S. retail markets with at least 100 million square feet of inventory.

The real estate technology company took a look at several factors when compiling its findings: Percent of inventory leased; availability rate; market rent growth; change in sales volume; and total return for retail properties as measured by its market price index.

Based on that data, Charlotte was the No. 1 performing market in the country with 7.4% asking rent growth and 11.6% total return.

Tampa did not lead in any category, but the market was a steady performer with 4.5% asking rent growth and 3.8% availability rate.

Orlando was No. 3 on the list and Miami was No. 8.

Dallas; Norfolk, Virginia; Nashville; and Phoenix were also among the sunbelt localities topping the list.

That so many of the top markets came from these locals is not a surprise to the researchers who say those markets dominate “the rankings amid demographic growth and business-friendly conditions.”

“These rankings,” the report’s authors write, “highlight the enduring appeal of markets with demographic tailwinds, diversified economies, and disciplined supply pipelines, and Charlotte’s rise to the top was predicated on each of these three factors.”

As for Tampa, it remained a strong retail market because of population inflows and tight retail space availability, according to the authors.