News
MID-AMERICA SIGNS SIX
April 21, 2011
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| Yesterday we reported that industrial leasing was up because people were buying more. Well, guess what? Retail leasing is up, too. Mid-America signed six new leases in shopping centers in Geneva,Aurora, Naperville, Hodgkins, Broadview, and Elgin last month. The biggest leasers? Service providers, like tanning salons and dentists, and food-based retailers like Yogen Fruz and Fruitful Yield. (You can see how things would get cyclical between the dentist and yogurt dealers.) Each of the retailers leased between 1,200 and 6,000 SF. This reflects a trend reported in JLL's Q1 Retail Trends report: stores are taking smaller spaces as more consumers buy on the Internet. JLL reports retail vacancy is down to 7.2% from 7.3% last quarter. |
