Thursday, September 8, 2011

Survey says rental rates to spur more retail store openings

According to a survey of 100 retail chains by CB Richard Ellis, 59% of U.S. retailers plan to open more stores due to the attractive rental rates currently available. The survey also found that nearly all the retailers (94%) have been able to negotiate tenant improvements in their leases, including financial contributions from the landlord, the lease term and rights to terminate early.

The retailers surveyed are generally cautious about the current economic environment, as only 27% view the economy as improving (compared to 35% last year). At the same time, 45% of retailers view the economy as stable (35% last year) and 27% feel the economy has already recovered in their market segment.

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