In this Issue:
- National Market Trends
- Leasing Trends
- Major Industry Transactions
- Retail in Ohio
- Excerpt from National Market Trends:
As more millennials move into urban areas, a fair amount of urban retail units are being acquired by investors, according to Auction.com’s EVP Rick Sharga. The firm recently reported closings on $52 million in retail properties, giving the retail sector a lead in deal volume for a second consecutive month (February and March). Because of store closings by companies like Radio Shack, Sears and Walgreens and the effect of e-tailing on these stores, more existing structures are being repurposed into multi-use facilities. Investors are picking prime locations or types of businesses likely to be more successful in today’s economy, like food, entertainment, office and even residential opportunities in what had been strictly retail in the past. There has been an increase of retail conversions into other, more profitable uses. If the demand continues, there may be a strength in pricing as the year goes on.
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