Fortunately, in the State of New Jersey, our economy appears tobe stronger than in other parts of the country. The GoldsteinGroup, which monitors retail vacancies throughout New Jersey twicea year, currently shows a retail vacancy in New Jersey ofapproximately 5%. This figure is low compared to other retailmarkets in the United States, such as Atlanta, Miami, Chicago andDallas, who are experiencing a much higher vacancy rate, in the10-15% range. Fortunately for New Jersey, this lower vacancy ratehas meant that our economy is holding up better than those beingexperienced nationally.


Although it is obvious that we will be experiencing some roughertimes ahead, we don't anticipate a huge increase in retailvacancies, and we anticipate that New Jersey will bounce backquickly when the economy regains its strength.


Chuck Lanyard is president of the Goldstein Group. Hecan be reached at [email protected].

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