Hillsborough Street - Market Report
This report includes trends in food and beverage sales, businesses openings and closings, commercial space inventory, business and development news and properties for sale or lease.
The goal of this report is to track the market of Raleigh’s Hillsborough Street Municipal Service District with data and metrics on a semiannual basis. Download the latest report below.
For the second half of the year, prepared food and beverage sales were $24.01 million in gross sales. Due to the COVID-19 pandemic, this is an increase to year-over-year sales of 62.9% and a gross increase of $9.28 million.
Q3 and Q4 saw 2 business openings and 2 business closings for a net change of 0. The six-month net absorption in combined office and retail space was -9,650 SF square feet.
Hillsborough Street retail vacancy continues to remain at a low level (2.5%).
Two major construction projects were completed in 2021.