{"id":21158,"date":"2025-10-20T12:41:13","date_gmt":"2025-10-20T17:41:13","guid":{"rendered":"https:\/\/www.naibeverly-hanks.com\/blog\/?p=21158"},"modified":"2025-10-20T12:41:13","modified_gmt":"2025-10-20T17:41:13","slug":"q3-2025-market-report","status":"publish","type":"post","link":"https:\/\/www.naibeverly-hanks.com\/blog\/q3-2025-market-report\/","title":{"rendered":"Open for Business: Asheville MSA Q3 2025 Commercial Market Report"},"content":{"rendered":"\n
\"90<\/figure>\n\n\n\n

Featured Listing (see below): 90 Asheland Avenue in Asheville<\/a><\/p>\n\n\n\n

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

The last year of the Asheville MSA business scene has been characterized almost entirely by responses to the devastation caused by Hurricane Helene on September 27, 2024. As we have been reporting<\/a>, everything from water access to transportation infrastructure to dips in tourism have worked against the success of local businesses\u2014particularly our local restaurants, which operate on slim margins at the best of times. <\/p>\n\n\n\n

While business has rebounded remarkably since Helene, many local businesses continue to struggle, and other outside factors continue to work against them. It remains to be seen whether this fall\u2019s tourism numbers will make up for last year\u2019s very slow Q4. Tariffs (and tariff uncertainty) have taken a toll on local businesses<\/a>. And this year\u2019s holiday sales growth is predicted to be more muted<\/a> than last year\u2019s (5.3%, versus 8.7% in 2024).<\/p>\n\n\n\n

But there have been a lot of highlights, as well! We\u2019ve seen beloved businesses rebuild from the ground up, as has been the case with Asheville Tea Company<\/a>. We\u2019ve seen surviving downtown Asheville businesses get creative<\/a> to boost sales in the face of lower foot traffic. And we\u2019ve seen a variety of new businesses take root amidst the muck of continued hurricane cleanup. Among them<\/a>, Asheville Forager opened on Wall Street downtown to offer groceries and fresh deli items. Shady Grove Coffee Co. opened up inside the Antique Tobacco Barn on Swannanoa River Road. And Swannanoa town locals were excited to see Zella\u2019s Deli return recently in a new location next to Play It Again Sports on Tunnel Road.\u00a0<\/p>\n\n\n\n

Local businesses also continue to garner national attention. In July, Asheville was ranked among the best U.S. towns to visit this year by CNN<\/a>, coming in at the number 3 spot.\u00a0<\/p>\n\n\n\n

Inc. recently released its annual Inc. 5000 list<\/a>, which ranks companies based on percentage revenue growth over the last three years. A full dozen of the nation\u2019s fastest growing companies are based in Western North Carolina, including one in the top 250. Benton Roofing, Sauna House, and Honest Digital are among those featured. Mills River-based RYSE Construction can credit the Asheville Regional Airport\u2019s new north concourse and Buncombe County government buildings in boosting them to the #652 spot. And Utility Solutions Group, only six years old, saw an astronomical 1,579% growth in business and 2,050% growth in employees this year, elevating them to #248 on the list.<\/p>\n\n\n\n

Large retail also continues to grow in the area. We were heartened to hear that Ingles plans to rebuild its Swannanoa location<\/a>, which was flooded by the Swannanoa River during Helene. Asheville Citizen-Times<\/em> reports, \u201cThe new Ingles will be 95,391 square feet, a 45% increase in size from the previous location’s 65,542 square feet.\u201d Asheville is also seeing a new Publix grocery store<\/a> coming to New Leicester Highway, and plans are underway for a Costco within Enka Commerce Park.<\/p>\n\n\n\n

Overall, we remain cautiously optimistic as we move into the holiday season. Our local business community has proven its strength and mettle. We expect the Asheville MSA commercial market to remain a strong investment in the coming months.<\/p>\n\n\n\n

Q3 2025 Commercial Sales Activity Review:<\/h2>\n\n\n\n