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Retail construction suffers in first half of the year

Post Time:Nov 12,2013Classify:Industry NewsView:52

U.S. retail construction activity fell 10 percent and retail renovations dropped 30 percent in the first six months of 2006, compared to the same period last year, according to research from the International Council of Shopping Centers, with U.S. offices in New York. The ICSC report is based on data from McGraw Hill Construction’s Pipeline database. “Broadly, I take away from this that the pipeline is slowing. It is understandable and not surprising. We’re on the other side of the boom that has been occurring for the past several years. It would be surprising if there wasn’t a slowdown,” said ICSC Chief Economist Michael Niemira said in the Aug. 7 edition of GlobeSt.Retail, an online real estate news publication. Regionally, the Northeast saw the greatest declines, down 16.2 percent year-over-year, followed by the South, falling 15.5 percent, and the West, down 7.2 percent. The Midwest edged up 2.5 percent over last year, according to the GlobeSt.Retail article. The largest subcategory drops in retail construction came from neighborhood centers and regional malls that fell 15.2 percent and 14.5 percent respectively, according to the article. Click here for the entire article.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/retail-construction-suffers-first-half-yearAuthor:

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