US Retailers Poised for Expansion

IRVINE-Backed by an improving economy, a recent surge in jobs and ten consecutive months of rising retail sales, a broad range of retailers are poised to fill up empty retail spaces over the next 12 to 18 months, according to Seattle-based Colliers International. Continuing the momentum from the recent International Council of Shopping Centers annual convention in Las Vegas, retailers are actively discussing new store openings–including construction of new stores in select markets, says Colliers. In particular, luxury retail, restaurants and value and discount retailers—including discount apparel and dollar stores—are the sectors most likely to expand.

Locally-based Richard Walter, president of Irvine, CA-based Faris Lee Investments, tells GlobeSt.com’s Natalie Dolce that the ICSC feedback from tenants was overall positive. “Being in the investment sales sector, Faris Lee is talking to more retailers today about either buying or leasing big box properties that we are selling,” he says. “Activity is much higher than earlier in the year.”