Figures presented at the Weitzman Group's 20th Annual ShoppingCenter Survey and Forecast on Jan. 19 showed 179 million squarefeet of retail sprawled across 41 submarkets and an area-wideoccupancy of 86.4%, down from 2008's occupancy of 87.6%. Unanchoredneighborhood strip centers ended up at 82.2%, down from 83.3% whilegrocery-anchored centers were at 85.2%, down from 86.7% at YE 2009.Power centers held their own at just over 90.6% (down from 92.1%from the end of 2008), while mixed-use centers took a hit, showinga YE total of 86.6% versus the 91.3% shown at the end of 2008.

But the intriguing figure involves the new space coming on line.Though close to 3 million square feet delivered might seem a greatdeal, compared to the 8.8 million square feet that came on line in2000, the current total is almost a drop in the bucket. It's alsoless than the 4.7 million square foot delivered in 2008.

Weitzman Group's Bob Young says the projects currently goingvertical are either second phases of or additions to alreadyexisting projects. "In 2010, I'd be surprised if there are anyretail projects of any size developed, other than an occasionalbuilt to suit for a given entity, or the next phase of a continuingproject that's been successful," Young remarks. "Our constructionnumbers will pale in 2010."