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Standing Firm on Shaky Ground

Retail isn't as strong as it has been in the past, but neither is it in a state of collapse.

By Brianne Harrison | Updated on September 15, 2008

[IMGCAP(2)]Problems in the economy are felt in several aspects of everyday life, and when people start worrying about keeping their jobs or paying their mortgage, it’s hardly surprising when they start cutting back on shopping. That, naturally and inevitably, trickles down and starts to affect the retail real estate landscape in a big way.

“Once you get past the top-tier stores that are opening right now, the next tier of the market is really struggling,” says Ed Walters, founder of and partner with the Walters Group, Barnegat.

[IMGCAP(1)]“The overall picture is a bit different from how it was a year ago,” agrees Matt Harding, president and COO of Levin Management, North Plainfield. “The market is a bit softer, and there are fewer tenants looking for space. The mood is cautious; people are holding back, waiting to see what the rest of the year will bring.”

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