Search
 

Retailers Are Proceeding With Caution

PARAMUS, NJ-'There will likely be more retailers closing their stores or filing bankruptcy over the coming months,' predicts the Goldstein Group's Chuck Lanyard.

By Alyson Grala | Updated on January 28, 2010

PARAMUS, NJ-The Goldstein Group recently completed its survey of New Jersey’s retail marketplace and concluded that as of January 2010 there was an overall vacancy rate of 8.11% throughout Northern and Central New Jersey, just slightly down from 8.18% in July 2009.

The vacancy rate indicates stabilization in the market, after an increase over the last few semi-annual reports from 5.21% in July 2008. Interestingly enough, the vacancy rate has not increased anywhere near projections of 10% by the end of 2009.

“It appears things have settled down a bit,” says Chuck Lanyard, president of the Goldstein Group. “One of the biggest concerns in 2009 was the number of tenants going out of business.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.