Recovery is continuing, however, history says we need to persevere and be prepared for a long run. A very slight increase in vacancy (.02%) in Q3 2013 is still nearly a full percentage point lower than Q2 2012.
The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.46% this quarter from 23.42% last quarter. Total net absorption for this quarter was a negative 7,162 square feet, while the gross absorption was 68,391 square feet.
New tenant locations and new investments are happening. Positive news for tenants is that there are good rates on good spaces available.
Many of the underlying statistics are improving. Housing value and consumer spending are trending higher, housing sales are increasing, while unemployment has dropped significantly. These numbers allude to an improving local economy.
Things are picking up, but we must be patient in the retail sector.
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