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<stronb>CBRE Econometric Advisors (CBRE-EA) is forecasting that the availability rate for neighborhood, community and strip centers will decline to 12.7 percent by the end of 2011. The ongoing pick-up in retail sales, combined with limited supply, will slowly decrease the national availability rate for neighborhood and community centers.
CBRE-EA plans to release the findings on Wednesday, May 11, but provide Retail Traffic with a sneak peek at its projections.
The availability rate (which CBRE defines as space that is actively being marketed and available for tenant build-out within 12 months) stood at 13.1 percent at the end of the first quarter-the highest level in the past decade. During the quarter,...