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2017 Retail Outlook is Repeat Performance

DALLAS—Based on what is in the works, construction forecasts indicate an increase to around 3.4 million square feet in 2017, with occupancy at 93% or higher and absorption reaching 4 million square feet.

Retail Survey Construction remains low, a result of developer restraint combined with retailer contraction.

DALLAS—Each year, a team of Weitzman professionals drives each multi-tenant shopping center of 25,000 square feet or more. During the past year, Weitzman surveyed 42 submarkets with 193 million square feet in 1,408 shopping centers. Bob Young, executive managing director, Weitzman recently spoke at the company’s annual forecast discussing retail real estate and the survey results.

Young said occupancy is at an all-time high, based on Weitzman’s review of a propriety database that spans five decades. Last year ended with a record-high occupancy of 92.6%, a full percent higher than year-end 2015.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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