Phoenix-area Retailers Back in Expansion Mode

The Phoenix retail market experienced a slight improvement in market conditions in the gilbert arizona water towerfirst quarter 2013 according to CoStar.

 

According to a just-released retail report by CB Richard Ellis. “Instead of hearing about massive store closures this year, we could get more news about chains opening their doors”. The report found that more than 90% of the respondents of surveyed executives at just over 100 retail companies, most of them national, planned to boost store counts.

 

Also according to data from CoStar- the Phoenix-area Retail Vacancy Decreased to 11.0% from 11.2% in the previous quarter to 11.0% in the current quarter. Net absorption was positive 484,603 square feet, additionally Quoted retail rental rates decreased from fourth quarter 2012 levels, ending at $14.29 per square foot per year.

 

Do these chains seem a bit optimistic about the picture out there or is it truly a good time for them to take advantage of better pricing?

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This information is for informational purpose and not intended to be investment advise, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared

 

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