construction: March 2009 Archives

American "Shopping Corridors" Emptying

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What does all this timely demising and store shuttering and bankrupty look like in the real world of strip-malled avenues? Northeast Ohio's retail spaces now have a 10.3% vacancy rate, an all-time high—and very little of that is due to new construction:

"There is no retail demand from large tenants who want new locations, and developers have problems getting loans for new projects," [CBRE broker Thomas] Flynn said. "Both the demand and supply side (of retail development) are stalled."

Few prospective tenants are around to eat into the vacant space. Only a handful of value-oriented stores, such as Family Dollar and Dollar General, as well as auto parts retailers, are expanding, CB said in its report.


Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page is a archive of entries in the construction category from March 2009.

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