WASHINGTON, DC-Despite concerns the sequester could put the brakes on the district's economy, a real estate research firm says it expects the region's retail market to continue to grow in coming years.
The analysis by Delta Associates states that rents in the district and outlying areas should rise in the next few years, according to the Washington Business Journal.
"Sequestration just formalized what began two-and-a-half years ago, when the cutbacks in federal employment and the decline in federal procurement began," says Delta CEO Gregory Leisch. "Still, our retail market has performed remarkably well. We're still the strongest retailing market in the country."
Rents in grocery-anchored shopping centers rose by 2.2% in fiscal 2013 and should increase by 2% to 3% in fiscal 2014. See story in the Washington Business Journal.
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