Call it the new (or maybe old) shopping center math, courtesy of David Henry, President and CEO of Kimco Realty Corp.
There's so much demand for retail space that a small amount of new development in the community and neighborhood shopping center sector, “green shoots” in his terminology, is taking place, he said at this week's Barclays Global Financial Services Conference. Yet rents remain some 20 percent to 25 percent below their pre-recession peak.
Why? It comes down to location, location, location.
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