News
Why You Can't Find Any Power Center Space in S.F.
February 09, 2015
Power center occupancy is sky high and retail expert John Cumbelich tells us it's basically a joke to try and find space. And it isn't going to get any easier.
John's firm, John Cumbelich & Associates, released a report that says power center occupancy among the top 25 flagship centers in the Bay Area has moved above 97%, an all-time high. In addition, the North Bay and San Francisco/Peninsula submarkets are both just a hair under 99% occupancy -- which is "historic and unprecedented," he says. Despite the strong fundamentals, John says there aren't a whole lot of projects in development, which he considers surprising. John says there could be more development, but the Bay Area has severe land constraints.
