Calling all Grocers News by Michael C. Hild - January 19, 2017January 19, 201760 Cushman & Wakefield | Thalhimer issued a research report entitled-Richmond at a Glance: Focus on Manchester. The report has a section entitled Calling All Grocers which rightly points out: “Manchester, despite all of the new multifamily product coming online, is still something of a “food desert” as defined by the USDA with the closest grocer being across the James River and nearly two miles away.” The report was covered by Carol Hazard from The Richmond Times-Dispatch, with an article entitled the Apartment market is booming in Richmond’s Manchester neighborhood. According to RTD story: “Since 2010, when an inventory of 740 apartments in Manchester rented for an average of $841 a month, the area has seen an influx of 1,620 more apartments and the average rate has increased to $1,135. Despite the addition of so many apartments, demand has kept up with the supply, according to the report. Current apartment occupancy in Manchester is at 91.8 percent.” Given all the new residents, here’s to hoping we find an oasis soon amongst the food desert sands of Manchester. Our guess is that it is a matter of time until density reaches a point that a grocer cannot refuse the opportunity. The only question is which grocer will be the first to take the plunge?
