Strip Retail Vacancy Hits 10%
This is an interesting article posted at Calculated Risk.
A telling quote from the article:
“Right now it looks like all signs are pointing to rents and vacancies, big components of income, getting shot down," [Victor Calanog, director of research for Reis] Inc said. "Until we see stabilization and recovery take root in both consumer spending and business spending and hiring, we do not foresee a recovery in the retail sector until late 2012 at the earliest.”
I can’t say I disagree with this statement, especially since I expect commercial real estate to significantly lag a general economic recovery.
