New Report Indicates Retail Construction Boom Will Continue

SAN DIEGO-Driven by economic factors, retail construction will continue to increase in 2001, but level off next year.

By Randyl J. Drummer | Updated on January 03, 2001

SAN DIEGO-Retail construction, driven by the county’s growth in population and strong housing, will continue to boom in 2001, according to a new report by Marcus & Millichap.

Most of the 2.5 million sf leased in 2000 was taken in centers anchored by national chains–a large boost over 1999′s 1.6 million sf, says Kent Williams, regional manager for Marcus & Millichap’s local office.

Williams predicted that 2001 would be even stronger, with an estimated 2.9 million sf reaching completion, according to the report. But increasing costs and other economic factors will force lower absorption next year, down to an average of two million sf, according to the report.

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