Retail vacancies still receding; CB Richard Ellis forecasting continued decline through 2006.

Crain's Cleveland Business,  January, 2006  by Bullard, Stan

• E-mail
• Print
• Link

Byline: STAN BULLARD Retailers seeking sites for new stores will find less room at the inn this year despite the accelerating rate of shopping center construction throughout Northeast Ohio. For the fourth consecutive year, the vacancy rate in Northeast Ohio shopping centers declined this year, to 7.5% effective Jan.

1, 2006, from 7.8% a year ago, according to a recently completed survey by the CB Richard Ellis real estate brokerage. CB vice president Mark Rantala forecasts that retail vacancy will fall to 7% by the end of 2006 as shopkeepers and restaurateurs continue to take ...

Read the rest of this article with a Free Trial at HighBeam Research.