Shoulda Gone Into the Grocery Store Business
Yesterday at Nick & Sam's on Maple Avenue, Weitzman Group held its annual Shopping Center Survey & Forecast luncheon, which GlobeSt.com reports was attended by a "standing-room-only crowd of more than 400 people" straining to hear how 2009 was shaping up for the Dallas-Fort Worth retail real estate market -- good, bad or flat-out fugly. So far, so-so, says this morning's recap, as developers apparently learned during the bust in the 1980s not to build without a good reason.
Says Weitzman's Bob Young, "We learned the hard way that it doesn't pay to build centers with little or no pre-leasing. New construction is demand-driven." Young also offered encouraging words for shopping centers anchored by grocery stores -- everyone's gotta eat, right? But beware the Big Box chain (except Wal-Mart). And restaurants.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Dallas, delivered to your inbox Monday through Friday.