Marcus & Millichap

Tampa Local Retail Report

Second Quarter 2019

Access Full Report Subscribe

Tourism Records and Population Surge Benefit Local Retailers and Draw Investor Attention

Rising incomes, population gains and an increase in tourism propel the retail sector. Retail sales soared an average of 7.4 percent during the past 12 months, placing the metro among the top five markets nationally. The vigorous growth comes from strong employment gains that contributed to nearly 39,400 additional residents moving to the region during the past four quarters. Another 38,600 are expected in the next 12 months. Rising incomes are leading to higher retail sales as discretionary spending expands. The median household income vaulted 7.3 percent year over year, the second highest rate of increase in the country and more than twice the U.S. growth rate. A surge in tourism is also benefiting the retail market. Last year, passenger volume at the metro’s two largest airports set new records.  

Access Full Report Subscribe