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RETAIL VACANCY AND ABSORPTION
<br />SUBMARKET T07AL # OF NRA VACANT SPACE PERCENT PERCENT VACANT 1ST HALF 2007 2ND HALF 2007 LAST 12 MONTHS
<br />''. BUILDINGS VACANT W; SUBLEASE ABSORPTION
<br />.. ABSORPTION
<br />. ABSORPTION
<br />', ;xnrn :':rv ~.14.... 7E.icG.84!s ':.~91,51ti ..:;1, G.9`'~, 10~
<br />L~~G2 G~fi17'v 6'5732
<br />N`ui.enao;isCBU ~7 1.)7r.0' 3Q4:oDu 1°.4 ;„ i0..`;, .'.:669 ~~'a 7,405
<br />i td,:ighburhood 24G 18,82'•38, 1,524,bh2 65'i6 103"io 17G,630 112,1:13) 42,442
<br />O,.t e• M11ait 3 788.4-40 "4,GDu ~.~i~, 4'i', 0 7 ~U01 (;:000;
<br />'.. Re~ionat 9 11,8:;S,Oo4 663,"1 '~.8`:~, ~°, 4 ~?.8:51
<br />... 1 i ~,Q00
<br />... ~%2:641
<br />:Jtc'Cia t`( 14 1 ) ~.76i 1Q.i.~J:1; t' 1 6.~%.. [14:!141 ,.~347I IL2.+11~
<br />St.Pa~tc3o v s41.a1o r~~>16 31.°-, _2~i o,7s6 (11:6001 4,1x6
<br />TOTAL MARKET 4b2 b3,822,112 4,434,858 6.9%
<br />_. $.1% 741,334
<br />_ _ 546,871
<br />.. 1,288,205
<br />'..._._ ou=re: Urdued .•rcp~rt iea
<br />trtouths c)f 2(1U?- l..ack i)f lrui)t~; ~icticit}' in
<br />rnallsho~ ~pa~-e i~ r<flc~t~tccl m file ~r`a:-~rrtd
<br />COtTLrIl 171lltV CC'll Let- ~aCallCV 7;'<re OE ) ~%"ir
<br />iE,'~:~ tis~tth s,tl:,lea~ s~~ar,ei, up freln ~.(~`.h:
<br />to .he itst h;1~_'.l: l? _.~'eragr xe~n.tai talc:
<br />deopped sli„htly, u> `^1 `t.l ~ pc°; scluatc fcrtit.
<br />Some. of ti7e increase in aacaucj- rates v<%as
<br />clue to sux-i. closin;> t~M1~ ('ompUSF, and
<br />C'`'icke; ~Ftu-uitttre (ars;et}tas bee:a the
<br />tur~st~ acuce~ big-lx>~ re•taili t. ad<hng iout-
<br />uew Supc~ I'ar7et~ and t~de~~e-lo]~ing three
<br />~31~its e~<un,' t;torc~s to cc~m; crt tlletn to
<br />Supi;rT~'argets.
<br />`±ss,,ta n 1 .ona, lalttih- r:nerrtaintne:nt~
<br />ce:nccr brands la;tti~ been evaluaanglricai-
<br />tians for pi)ssible entry into the Tcuin
<br />t ;hies rr?arket, including 7.).i~ : to E3u,ier's,
<br />~m;izing Jake's an.l 13r ~,:~ ,' uu lone.
<br />l3ntus>v'ick has opt nrd i,:; -...n.~i metro
<br />location in 131ar!ur and is'<{=irking t)n
<br />anirther =oca7on in O~tkdalc.
<br />NEIGHBdRNdddCENTERS
<br />"f'lte second-h,i:t ~'aian~v rate ;t)r ltei<~h--
<br />1?orltix?d ~ enters tvas 8.6':'4., t:p trom `.a'i:,
<br />at rni<1..._i; ar, c4~ith negative absorp on of
<br />1J~,1:?~~CI. tC.,{~{NT?.pared iF'1T,lY ~~•:j. aii(1 {l,
<br />!t, of pox tlbr a:>sr~tpnon in thr i,ra h,
<br />~t 't?0. "1 hc^ avcrl~e rectal rat ~ _ -Dined
<br />~h hti:, to ~1fi?t~ },; .qualc f ~ t.
<br />Act;vitsr in the small--shop caret>orv Jowe~i
<br />c a direct )-exult of rl1e~ s1o41~doti-V1'1 In ehc
<br />sins,le-faruily housin market. T11ic down-
<br />tttrr, in lca5iui{ has turced some landlords
<br />ti) begin offering inccnrivc•s fur tlu° first
<br />time in nearh~ a dec;ule.
<br />sc,urcc: ~!rJmd I'rupsrties
<br />9
<br />7.8 g
<br />7
<br />6
<br />5
<br />4
<br />3 z
<br />Q
<br />2 `~
<br />1 Z
<br />o ~
<br />(aesl W
<br />111 a
<br />'99 '00 '01 '02 ~~ n,. 05 '06 '07
<br />REGIONAL MALLS
<br />F'Legiaual malls have condnucd to t6ri'v=e,
<br />accot,tl[in~r for ~?2,i~~ 1 yrl. ft. of adsorp-
<br />tion, nearhr ha1r' of the tt,)ttil ?U0, rerul
<br />absorption of~ 1.?~ mllhon sZuare, fr°ct.
<br />1-3o5c::~-~r, th.ar- v%as a u.~ep <arol? in absi>rp-
<br />rion in the second hal€~, li~ont =1~7,~4 i scl. fl'.
<br />at tx?id-yi:ar to 17 ~,f7l,~tU x{, ti.. Sn the seu)na
<br />Half. "Z-l)e s%,tc nc:vr rats, wras ~.b c. at yr^,u-
<br />c~ttd. The as~~rtgr° rrnial rare >,~as st~ablc at
<br />X60 ? ~ prr sl~t;ue• toot.
<br />~1 pto~:osed 5.6-rtrillion-c,jtla?c• tiros ;.tiJ-
<br />ditiort to tl)c• `Mall. of lutarica is on bold;
<br />Cloy.. P"lvcacnrv vetoed a stage tun~iirr pack-
<br />;.~e lasr-sprvz~ suluchin~h,i7ed~~I3= tur.dtna
<br />fi)r rhr: ~9all. `vacaneti- in the ;ila.ll's i=ourth
<br />level remain, high.
<br />~1c Soutltdalit it1 E',{'iina. Sin~iou ('tc?pcrty
<br />GrouF.) is ~ti•orl,:il7~~; oft its rcno~aric)r? and
<br />)r~~osiuoiaing for thrsl~c171 Cities' i)]dcst
<br />)Hall. hr 12i~~c^~,-tlli:, l: o:cti~tle Lealter has
<br />br: rtn r~.~ rtalircd !s}- a rualot t -:design ot~ chc~
<br />fonncr ~Vlcrv'vn~s space.
<br />SPECIALTY CENTERS
<br />The 1~1 cl?c:cialtr centers in the rnarkrr
<br />rr°porrr ~l ,-~ 6?`i, r~acaucv rate it) the second
<br />half of~~t10%. S~::cond-la;t(f absot-ptioti was
<br />ne~~ari~-e ,tt 3,3`? sq. ft.. for it 2i?ii7 toga!
<br />r)1 n~ga aye 2?,ti I 1 sq.ti. of iibsorption.
<br />I3oF~,~cr, ttpscaii ~.dina cc:nt~ersThe C.:al-
<br />leria r.1nd ~i)°` & France, bare burst thrivilag,
<br />partly dn, tc> tha zca.ent hoorn in zte~tt'by
<br />condo fr°vetopmetlr and cl)e conrintung
<br />strc~n?„;th. of t1u• upscale i"imsunlel t~,;;nrenr.
<br />RETAIL ABSORPTION, CONSTRUCTION AND VACANCY -
<br />^ Absorption ^ Construction • Vacancy
<br />4.5
<br />4 %~
<br />3.5
<br />3
<br />N 25
<br />Z
<br />0 2
<br />J
<br />~ 1.5
<br />4W 1
<br />w
<br />W 5
<br />a a
<br />° 1.51
<br />'97 '48
<br />~e t e I C 1 b
<br />
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