Retail development is growing across the U.S. in 2025. Here’s a look at the top five U.S. cities for opening new retail spaces this year, along with the recent news of store openings that supports the momentum.

1. Austin, Texas

Austin continues to lead national growth metrics in retail with vacancy rates around just 3% in early 2025. Major grocers like H-E-B are investing heavily, including a $30 million store in Georgetown (a 30-minute drive north of Austin) set to open later this year. Smaller brands are scaling too, like Swedish Hill Bakery which recently announced two new locations in Austin. 

2. Miami, Florida

Miami is continuing to draw interest from international investors and U.S. brands. Tourism is high, especially during the “snow bird” months, and real estate investments are still going strong in neighborhoods like the Design District and Wynwood. 

3. Las Vegas, Nevada

Las Vegas retail is still going strong since post-pandemic, led by major projects like the new BLVD complex on the Strip with tenants such as Lululemon and Adidas. In the suburbs, Henderson approved a $50 million open-air center, The Cliff, to meet rising demand.

4. Phoenix, Arizona

Phoenix’s population growth, strong housing market, and affordable rents are driving retail expansion, especially in suburban areas. Lifestyle centers and mixed-use developments are popular and attract retailers.

5. San Antonio, Texas

San Antonio retail construction is growing, with over 600,000 sq ft set to deliver by late 2025. New stores from H-E-B, Dick’s, Trader Joe’s, and Burlington reflect strong suburban demand and 95% occupancy.

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