| Dallas: It's alive! That's what the Dallas retail sector would like to believe anyways, says Reis analyst Brad Doremus. Quarter-over-quarter effective rent change was positive in Dallas for the first time since the Reagan administration…ok, maybe not that long. Though it may feel like it for those that watched effective rents drop in six straight quarters before finally notching up 0.3% in Q3 '10. But retail centers have been feeling the pain (evidence, empty retail pictured in North Fort Worth) even longer than this indicates; Q3 '10 marks just the third effective rent increase in the past 14 quarters, dating back to Q2 '07. This may be why most aren't taking solace in the fact that rents have not fallen as fast as national figures over the past two years. Add this to the troubles; the respite experienced this quarter will probably not last. Both national and Dallas effective rents are expected to drop another 0.5% in 2011. |
Retail Recovery?
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Brad Doremus, North Fort Worth
