US: Retail Development on the Rise


In spite of retail developers’ predictions that new project pipelines won’t grow until 2014, it looks like the market will see a healthy amount of new construction next year. The CoStar Group, a Washington, D.C.-based research firm that tracks all types of retail properties, forecasts that new retail completions will total 52 million sq. ft. in 2013. The figure would constitute only a third of average annual completions for the 2006-2008 period, but will still be more than double the 20 million sq. ft. expected to be delivered in the current year.

Projections from researchers at Marcus & Millichap Real Estate Investment Services, a Calabasas, Calif.-based brokerage firm, are slightly more optimistic. They expect to see 60 million sq. ft. of new retail space delivered in 2013.


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