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U.S. Retail sales growth expected to drive down industrial vacancy
May 25, 2011Retail sales continue to climb in the U.S. finishing first quarter with $1.15 trillion of total sales according to Moody’s/Economy.com. This marks the eighth consecutive quarter of retail sales growth. Kiplinger expects overall retail sales to increase by a bit more than 3% this year, compared with a 2010 gain of over 4% from the dismal 2009 levels.
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Newly formed University Real Estate Foundation purchased a 40 year old, 235,000 square foot shopping adjacent to campus for expansion.
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