{"id":21132,"date":"2025-07-24T10:24:00","date_gmt":"2025-07-24T15:24:00","guid":{"rendered":"https:\/\/www.naibeverly-hanks.com\/blog\/?p=21132"},"modified":"2025-07-24T10:24:00","modified_gmt":"2025-07-24T15:24:00","slug":"q2-2025-market-report","status":"publish","type":"post","link":"https:\/\/www.naibeverly-hanks.com\/blog\/q2-2025-market-report\/","title":{"rendered":"Changing with the Times: Asheville MSA Q2 2025 Commercial Market Report"},"content":{"rendered":"
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Featured Listing (see below): 701 NC Hwy 9 in Black Mountain<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n

Commercial Real Estate Insights<\/h2>\n\n\n\n

We\u2019re quickly approaching one year since the devastation from Hurricane Helene. Every week brings new businesses reopening\u2014either in rebuilt spaces or at new locations throughout the city. And every occasion is a fresh cause for celebration!<\/p>\n\n\n\n

Both supply lines and tourism continue to be hampered by closures to roads, bridges, and railways. Most recently, I-40 near the Tennessee line was closed again thanks to fresh landslides in the area. But there are many reasons to be hopeful. I-40 is projected to be open<\/a> by the July 4th weekend. Norfolk Southern has reported<\/a> to the N.C. Department of Transportation that they will rebuild the Old Fort Loops, the last section in WNC needed to reconnect eastern NC with Tennessee. And while a number of sections of the 469-mile Blue Ridge Parkway remain closed due to Helene damage and ongoing repairs, much of the Parkway is open<\/a> around the Asheville area and northward.<\/p>\n\n\n\n

Similarly, there is good news and bad news among businesses in the area. On the one hand, Asheville Watchdog reported<\/a> that around 40 downtown businesses have closed since Helene, including 15 restaurants. Nevertheless, local business leaders remain optimistic. And a number of local businesses continue to receive national accolades. Recently, Food & Wine<\/em> named Asheville one of \u201cThe Top Small US Cities for Food and Drink<\/a>\u201d, giving shout-outs to restaurants Neng Jr.\u2019s, Good Hot Fish, and Hell or High Water in Black Mountain.<\/p>\n\n\n\n

As we reported recently<\/a>, local hotels are themselves becoming a draw for tourists. Boutique hotels across the city have been earning Michelin Keys (the hotel equivalent of Michelin Stars for restaurants), Cond\u00e9 Nast Traveler\u2019s 2025 Readers\u2019 Choice Award nominations, and spots on Time<\/em>\u2019s \u201cWorld\u2019s 100 Greatest Places to Visit\u201d list.<\/p>\n\n\n\n

Public opinion of the issue varies, but it always seems like nothing can stop new development in our growing city. This spring, Buncombe County announced<\/a> they have selected a development partner for a $74.5 million affordable housing project in downtown Asheville\u2019s South Slope. More than 200 units will be created from converting county-owned buildings on Coxe Avenue. An additional 36 units have been proposed<\/a> for South Asheville.<\/p>\n\n\n\n

Overall, it has been rewarding to see our commercial and multi-family spaces continue to transform with the times and the market. We anticipate the Asheville MSA commercial market to continue to strengthen in the coming seasons.<\/p>\n\n\n\n

Q2 2025 Commercial Sales Activity Review:<\/h2>\n\n\n\n