| Retail remains the sick man of commercial property markets, according to top Reis analyst Brad Doremus. Atlanta's retail sector has struggled on an absolute basis and relative to the national retail market. Strip malls in Atlanta had a vacancy rate of 14.2% in Q3 2010, earning the dubious title of the 12th highest vacancy rate among the top 80 metros. This is the 13th straight quarter that Atlanta's retail vacancy rate has remained flat or increased. Despite some modest interruptions prior to 2007, the general upward trend in vacancies has been evident since 2005. Unfortunately, the vacancy rate is expected to rise for the next couple of years—above 15%. If Reis forecasts are to be believed (and they should), Atlanta's retail vacancy rate will have doubled in a period of five to six years. |
RETAIL VACANCIES RISING (SADLY)
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Brad Doremus
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