NEW YORK CITY—“In the past year, national retailers have expanded rapidly.” So says Ami Ziff, national director of retail with Time Equities Inc. “As a result, we’re witnessing robust leasing velocity across the country, specifically in the big-box sector.”
Ziff, who recently took some time to chat with GlobeSt.com as part of our ICSC RECon coverage, says that he expects the trend to continue and be accompanied by steadily increasing occupancy numbers at our retail locations throughout the country.
“Across the board, our national retail portfolio, totaling nearly 3 million square feet, is approximately 91% leased,” he says, “and we are on track to sign 70 deals in 2014.”
Just this year, he adds, “we completed two retail acquisitions totaling 400,000 square feet and are currently in talks to acquire an additional 100,000 square feet.”
Each year, he says, Time Equities Inc. continues to expand by roughly 10% to 15%. “The high-volume of activity in the real estate sector speaks directly to the current strength of the retail market.”