Developers delay retail projects until 2010 — waiting until demand returns

The Saint ReportProperty Development, Retail, saintblogLeave a Comment

stoplight One of the most prevalent trends CoStar reports from the retail real estate investment trusts’ second quarter conference calls was their decision to put off planned new retail development until 2010 or later. In this story, CoStar makes note of this trend, citing specific examples of large retail projects that have been recently delayed and the reasoning many retail REITs gave behind making such delay decisions.

According to CoStar’s Mid-Year 2008 National Retail Report, 142 million square feet of retail space was under construction at the close of second quarter; down 14.5% over the same time last year.

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