With retailers approaching record occupancy levels and running out of space they find desirable, developers are expected to selectively ramp up construction levels in 2017 to accommodate the rising tenant appetite for the highest quality and best located retail space.
Retailers are finding it increasingly difficult to find available space in the best and most well-located centers. At the same time, they're refusing to settle for subprime locations and submarkets, a trend expected to yield a stronger influence on vacancy rates than new supply, noted CoStar senior real estate economist Ryan McCullough. . . . more