Retail vacancy levels stayed relatively flat for the first quarter of the year, according to preliminary data from real estate research firm Reis.
Not exact matches
We are excited to bring a variety of new, top quality
retailers into this exceptionally vibrant
retail environment that has continued to thrive with consistent high
levels of traffic, top of industry sales volumes and low
vacancies,» said Randy Levinson of Shamrock Group
«The projected imbalance between net absorption and completions will increase the upward pressure on
retail vacancy rates, as well as on concession
levels for new and renewing tenants,» Chandan says.
One of the market driving forces is the growing appetite for modern office and
retail space in the key hubs where
vacancy levels are considerably lower than in B - grade properties — especially older buildings in outlying suburbs — and these investors are likely to come under increasing pressure.
; •
Vacancy rates are expected to drop in a range of between 1.2 and 3.7 percentage points for office,
retail, and industrial properties and remain stable at low
levels for apartments; while hotel occupancy rates will likely rise; • Rents are expected to increase for all property types, with 2012 increases ranging from 0.8 percent for
retail up to 5.0 percent for apartments.
«Until the economy begins to create more and better jobs,
retail sales will remain listless, demand will remain at low
levels and the
vacancy compression will be slow and tedious.»
Scott Holmes, senior vice president & national director of the National
Retail Group at Marcus & Millichap shows that «the national average
vacancy rate now stands at its lowest
level since the 1990s.