from Marcus and Millichap (9/12):
SACRAMENTO RETAIL MARKET FEELS
EFFECTS OF SOFTENING ECONOMY
"SACRAMENTO, Calif., Sept. 12, 2008 – In the Sacramento retail market, the ongoing housing downturn and an overall weakened economy have contributed to vacancy rising in each of the past seven quarters, according to a third-quarter Retail Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm. Although sales activity is forecast to stay near current levels, eroding corporate profitability may encourage some firms to seek sale-leaseback opportunities in the single-tenant sector as a means to raise capital.
“Investors may want to explore opportunities near redevelopment efforts downtown,” says Robert Hicks, regional manager of the Sacramento office of Marcus & Millichap. “The 240-acre Railyards project, which will contain entertainment space, urban housing, retail product and a hotel, is expected to accelerate area foot traffic upon its completion in 2009.”" ...
for the complete press release
For the complete report on Sacramento retail, contact Ruth.
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