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Market Report

Louisville Retail Market Report

2019 Outlook

Investors Deploying Capital in Louisville to Achieve Higher Returns

Retail market in Louisville moving toward long-term stability.
Employment growth in Louisville slowed over the past two years, but payrolls should expand closer to the national average this year. Some of the 10,000 new jobs added in the metro will be at the Jeffersonville Towne Center. The 1 million-square-foot super regional mall is expected to open before the holiday shopping season. The project also constitutes nearly all of the new supply scheduled for completion. Beyond this year, the pipeline dwindles, which should remove threats from construction. Nonetheless, vacancy will tick higher due to low pre-leasing. Nearly 90 percent of the space underway does not have commitments, though much of that includes the new super regional mall, which should fill up quickly as ribbon-cutting approaches. Rents, meanwhile, should have a strong year as new supply pulls up asking rates.

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