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Is Retail Ready for a Turnaround?

NORTH PLAINFIELD, NJ-Heightened leasing activity during the first half of 2009, coupled with new construction tied to shopping center repositionings could bode well for the industry.

By Alyson Grala | Updated on August 13, 2009

NORTH PLAINFIELD, NJ-The economic news continues to be dominated by negative headlines, but Levin Management Corp. reports there are positive signs that the retail business is ready for a turnaround. Heightened leasing activity by the retail real estate services firm during the first half of 2009, coupled with new construction tied to shopping center repositionings provides the evidence.

“Better things are happening,” says Levin president and COO Matthew K. Harding. “All things considered, our properties have been doing pretty well through this cycle, and we are encouraged by what we’re seeing right now.”

The signs include a total of approximately 262,000 square feet of leasing activity at Levin properties during the first seven months of the year, involving 48 transactions and 24 shopping centers in four states. Much of that activity has occurred in New Jersey, with the balance in PA, NY and NC.

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