News

Really Should Have Gone Into Groceries

The Weitzman Group delivered its 20th Annual Shopping Center Survey and Forecast yesterday, and, as expected, the news was grim for developers and retailers: Last year saw a steep decline in construction starts and occupancy rates, and 2010 looks to be no better at all -- unless, oh, you're a grocery-store chain, in which case, it's up, up and away. (I'm still trying to figure out how Wick missed Aldi's long-ago-announced move into Dallas-Fort Worth -- coming-soon signs like the one above are all over town, and there's a job fair every other day.)

GlobeSt.com also spoke to EDGE Realty's Brian Murphy, ex-veep at Staubach Retail, who says that "the really big projects, the speculative projects, have been put off a ways." But Frank Bullock at SRS Real Estate Partners is more hopeful: Even if people aren't building, he says, they may be looking to buy. As in:

"The wait-and-see period has been wait-and-seen," adds Bullock in an interview unrelated to the Weitzman presentation. "Capital doesn't like to sit around and make 2% in the bank, it wants to go to work. People are ready for that, barring some kind of political meltdown."

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Robert Wilonsky
Contact: Robert Wilonsky