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Survey: Industry Recovery To Take 14 Months

LAS VEGAS- The retail real estate will take 14 months to recover and regain equilibrium, according to a survey of 120 real estate professionals conducted earlier this week at the International Council of Shopping Centers' RECon show.

By Ian Ritter | Updated on May 22, 2008

LAS VEGAS-The retail real estate will take 14 months to recover and regain equilibrium, according to a Jones Lang LaSalle survey of 120 real estate professionals conducted earlier this week at the International Council of Shopping Centers’ RECon show.

Of the retailers polled, which accounted for about one third of the respondents, 61% said they expect to add stores this year, 27% said there would be no change and 12.1% predicted store closings. Additionally, 55% of retailers forecast a same-store sales gain this year from staying flat to up 5%, 30% said results would stay flat, while about 15% foreshadowed a decline.

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