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Between 2011 - 2014, 90 new businesses opened and 11 businesses expanded downtown.

New Businesses

Since 2009, retail sales have steadily increased each year. In 2009, retail sales for downtown were just under $ 151 million, in 2013 they were close to $221 million, showing a total increase of $70 million dollars between 2009 and 2013.

Downtown office vacancy rates have continued their decline from a high of 16.8% in 2009 to just 8.7% in 2013.

Downtown residential vacancy rates have also continued to decline. In 2010, the vacancy rate was fairly high at 13.8%. In 2014, the vacancy rate is much lower at 2%.

16.8% Vacancy

221

$

151

$

Million

Million

8.7%

Vacancy

13.8% Vacancy

2%

Vacancy

Between 2004 and 2013, downtown has seen overall office absorption of about 600,000 square feet.

*2014 Sioux Falls Downtown Market Study Source: Bender Commercial Real Estate Services

Economic Trend Report  
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