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Winston-Salem Neighborhood Retail Centers Hurting

WINSTON-SALEM, NC-Vacancies are at 13%, up from 9% four years ago at 40 neighborhood and community shopping centers representing four million sf. Property owners face hurdles in subdividing vacated space for smaller users. Winston-Salem is 80 miles northeast of Downtown Charlotte.

By Robert Anthony | Updated on November 09, 2000

WINSTON—SALEM, NC-The retail vacancy factor in this high-tech development hub is soaring. Vacancies are at 13%, up from 9% four years ago at 40 neighborhood and community shopping centers representing four million sf, according to a new survey by Michael S. Clapp & Associates. Winston-Salem is 80 miles northeast of Downtown Charlotte.

Clapp’s commercial appraiser Paul Carter says the departure of certain stores to larger sites that provide the convenience of drive-through service is a factor in the climbing vacancy level. He says the departures have opened up “deep spaces” in shopping centers that are often difficult to subdivide to suit smaller tenants.

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