Plus, Cleveland is a bit of an anomaly in a new report
on retail vacancy produced by real estate data firm Reis Inc., a Wayne State professor examines the feels of nostalgia that fuel support for Chief Wahoo, and more.
«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.
Not exact matches
With a reputed
vacancy rate of less than 2 %
on more than 40 million square feet of industrial, office and
retail property in the GTA, the company is known for moving fast, despite the high - octane distraction of the Canadian Tire Motorsport Park, Fidani's pet project.
Richard Wagman, founder of Madison Capital, didn't sugarcoat that the city's toniest
retail corridor
on Upper Fifth Avenue is currently stuck with
vacancy rates north of 15 percent.
The recession has resulted in several store
vacancies downtown, including empty
retail spaces
on three of the four historic corners.
Downtown Santa Barbara, through private funding, hired Seattle - based
retail consulting firm Downtown Works for guidance
on how to fix the rising tide of
vacancies and other issues affecting
retail on State Street.
At a price of ~ $ 350 for the deluxe bundle packaged with goodies like a 32 GB hard drive and the game Nintendoland, or ~ $ 300 for the just the system with an 8 GB hard drive, parents
on a budget may opt to fill a home's console
vacancy with an original Wii, which
retails at about half the price of the Wii U but comes with the cost of missing out
on worthwhile exclusives, specifically Nintendoland and New Super Mario Bros..
Companies that operate
on or own a lot of land, such as infrastructure companies and
retailers (a few
vacancies)
The Sterling Cos. reports nine
retail projects totaling 1.7 million sq. ft. are scheduled to open in 1998, resulting in a small increase in
vacancy, but little or no impact
on rents.
Fund managers expect
vacancies to be more pronounced in class - B and class - C
retail centers as
retailers scale back
on new store expansions.
Depending
on the circumstances, a landlord may or may not find a satisfactory solution to
vacancies created by exiting
retailers.
On the flip side, the second borrower was looking for $ 50 million in financing for a
retail condo property in SoHo in an area where
vacancies have ticked higher and rents have dropped in the past year.
In Cincinnati, the
vacancy rate reached 12.3 percent in the second quarter due to a glut of
retail space that came
on the market in the first half of 2006 and has proved hard to rent.
Accessible electronically at Reis.com, the new
retail reports furnish valuable information
on rents,
vacancies and expenses in more than 50 U.S. markets.
With
retail rents
on the rise due to record - low
vacancies, and e-commerce continuing to generate more sales, more stores going dark is inevitable, said Marshal Cohen, chief industry analyst at NPD Group.
Minneapolis
vacancies are at 10.9 %, according to a United Properties market report, which goes
on to say that the strong office market has helped increase
retail demand - citing a new Target store downtown as one example.
Tampa improved its standing by three places
on the Marcus & Milli - chap NRI this year, due to «a lull in new
retail construction and only a moderate increase in
vacancy.»
The prevailing theory is that failing brick - and - mortar
retailers will mean higher
vacancies and bankruptcies for mall operators, with losses inflicted
on CMBS holders.
Discipline
on the part of developers should keep
vacancy in healthy territory in 2017 as more
retailers expand into the rapidly growing Charlotte market.
Mall owners are being forced to think outside the big box as
retail tenants dry up because of bankruptcies and closures, and are now focusing
on nontraditional businesses to fill their growing
vacancies, at 7.5 percent industrywide.
Tucson
retail, like other property sectors, enjoyed improvement as the marketwide
vacancy dropped to 6.8 %
on positive absorption of 452,409 square feet (sf).
For example, if
vacancies are higher
on the first six floors, an owner might want to consider alternative uses such as fitness centers, restaurants,
retail or residential units.
For example, Boston - based Property & Portfolio Research (PPR), has some of the most bearish projections
on retail real estate, expecting the national
vacancy rate to climb 17.3 percent, while projecting rents to 5.6 percent.
Today,
retail REITs find themselves in a position where they can concentrate
on raising rents, instead of just battling
vacancies, according to Stephen Lebovitz, president and CEO of CBL & Associates Properties Inc., a Chattanooga, Tenn. - based regional mall owner.