Retail property market begins to groan

By Geert De Lombaerde Posted on October 9, 2009 at 1:46 pm

Vacancy rates at strip centers reached a 17-year high last quarter, according to a new study. Rents haven’t dropped too much yet, but observers say it’s only a matter of time.

“Since asking and effective rent growth only turned negative about one year ago, it is daunting to observe this acceleration in decline in what has traditionally been regarded as a stable property type,” Calanog said.

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Tags: commercial real estate, consumer spending, economic indicators, Reis Inc., retail, retail real estate  

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