PHILADELPHIA-Retailers' interest in the Philadelphia metropolitan area is perking up - and by year's end, shopping center vacancy should dip to less than 8%, according Marcus & Millichap's forecast for the rest of 2013.
“Rents across the metropolitan area will climb during the year,” M&M predicts.
Asking rents are expected to rise 1.5% to $17.80 per square foot in 2013 as demand for space strengthens. Last year, rents declined by 3.2%.
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