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LA's Retail Sector Slowing Down

LOS ANGELES-As consumer confidence dwindles, the latest report from Marcus & Millichap predicts retail sales will slow to a 5% growth rate, down from an 8% to 9% increase in 2000, according to the latest report from Marcus & Millichap.

By Erin Cassin | Updated on May 14, 2001

LOS ANGELES-A decline in consumer confidence, a rise in utility costs and heightened caution by investors have all contributed to a slowdown in the retail sector of the county’s commercial real estate market, according to a recent report published by Marcus & Millichap.

As consumer confidence dwindles, retail sales are expected to slow and vacancies in retail centers to rise. Retail sales are predicted to drop to a 5% growth rate, down from an 8% to 9% increase in 2000, according to Marcus & Millichap’s report. At the same time, vacancies are expected to rise slightly, especially in unanchored strip centers.

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