Oct
31

Retail Vacancies Create Hole in Greenville Market

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Third-quarter increase likely to be ongoing trend, real estate experts say

October 31, 2008

By Angelia Davis – Greenville News

The departure of Goody’s Family Clothing stores sent the area’s retail market vacancy rate up in the third quarter.

The Retail Market Trends report by Grubb & Ellis/The Furman Co. said the vacancy rate for the Greenville-Spartanburg market rose from 10 percent in the second quarter to 10.6 percent in the third quarter.

Brian Reed, research manager for Grubb & Ellis/The Furman Co., said vacancy rates will likely climb higher in the coming quarters with the expectation of more retail closings.

“The biggest thing is going to be Linens-n-Things,” Reed said. “But the overall feeling is we’re only midway through closings.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20081031/BUSINESS/810310319/1003
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