Land prices, for example, have remained steady over the past year. Shopping center sites over 10 acres are in the $6 psf range. Outparcels are selling for $13 to $18 psf.
Rental rates for new anchored centers range from $14 to $18 psf. Boutique space located across from malls or in highly desirable submarkets, such as MetroWest, Bay Hill and Windermere, commands rents in the $21-plus psf range. But local space in high traffic districts and regional malls continues to rent for $40-plus psf.
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