Market Spotlight: Naples/Collier County Retail Submarket

Naples' retail market outperformed Collier County and the Southwest Florida region — comprising Charlotte, Lee and Collier counties — in 2015, according to CoStar Group statistics.

The health of the city's retail market is reflected in its average rental rate, which was more than double that of the surrounding region at $31.52 per square foot at year-end 2015, and by a shrinking vacancy rate. At the end of last year, Naples' vacancy stood at 3.0%, less than half that of the region's 6.6% vacancy level. In 2010, by comparison, the three-county retail vacancy rate stood at 8.9%.

412,292
Amount of square footage positively absorbed in the fourth quarter of 2015 in the three counties

254,150
Total square footage under construction in Collier

23,418,582
Total retail square footage in the county, in 1,603 buildings

Retail Vacancies
6.6%
Overall average retail vacancy in Charlotte, Collier and Lee counties

6.2%
Retail space vacant in Collier County

9.1%
Retail vacancy in East Naples (out of 4.2 million square feet)

3.0%
Retail vacancy in Naples (out of 3.06 million square feet)

3.1%
Mall vacancy in the county
(four properties)

Quoted rental rates, per square foot
Charlotte County $11.85
Collier County $18.79
Naples $31.53
Average $14.85