Riverside-San Bernardino Retail Market Report
Necessity Retailers Enlarge Footprints Amid Residential Construction
Retail demand poised to reach new heights. The Inland Empire entered April following five straight quarters of positive retail absorption that coincided with strong population growth and diverse hiring. Vendor demand for available space was most pronounced during the first three months of 2022, when retailers, including grocers, apparel shops and home goods stores, absorbed nearly 1 million square feet. Moving forward, demand for regionally affordable living options is poised to preserve locally strong rates of in-migration and household formation during the remainder of this year. This growth and the metro's record job count bode well for consumer spending at necessity-based retailers and restaurants, circumstances that are positioned to support a historically strong year for retail absorption.