RETAIL VACANCY DROPPING
While national neighborhood and community center vacancies languish at a peak of 10.9% for the fourth quarter in a row, Charlotte's has fallen for four consecutive quarters, says Reis analyst Brad Doremus. The metro?s retail vacancy rate fell just 10 bps in Q1 2011, but the quarter capped off a 12-month period that saw a 100 bps drop. Charlotte began exhibiting declines in Q2 2010, the same quarter in which the national rate hit the peak that it's been at ever since. However, 2011 should bring a pause in Charlotte's gravy train. Reis expects retail vacancies in the market to climb higher before the year is out, resuming their decline in 2012.