Retail Performance (5/4)
May 4, 2009 7:38 PM
With the tremendous pullback in consumer spending, neighborhood and community shopping centers recorded negative net absorption of 8.2 million square feet in the first quarter of 2009. That number is almost as large as the total for all of 2008 when retailers returned 8.6 million square feet to the market. Meanwhile, vacancies jumped 180 basis points from the first quarter of 2008 to the first quarter of this year.
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