In 2009, Retail Real Estate Industry Delivered Lowest Amount of Space in 27 Years

Published Tuesday, January 26, 2010

CoStar Group Inc.’s National Retail Market report reveals that the retail real estate industry delivered 79.5 million square feet of space in 2009—the lowest amount of new construction in CoStar’s records, which go back to 1982. The amount of new space fell throughout the year with the fourth quarter marking a new low point, according to the report. During the fourth quarter 2009, 462 buildings totaling 14,387,904 square feet were completed in the U.S. retail market, compared with 700 buildings with 20,676,093 square feet completed in the third quarter, 730 buildings totaling 18,722,135 square feet in second quarter ...

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