Is Charlotte A Good Market For Retail?

[StevenRocks]

Report hammers Charlotte retail market

A retail real estate report released to more than 50,000 industry players pegs the Charlotte market as one of the nation's weakest by a range of supply-and-demand indicators for 2005.

That's news to most who are involved in the industry here, including local analysts.

So what do'ya'll think. Is Charlotte able to absorb all the new retail projects going up? And if it is, will Marcus & Millichap's negative report affect how national developers see the merket, potentially limiting future development?

[atlrvr]

Well there are certainly sections of the city that are at capacity, such as Pineville and the Eastland area, but SoutPark could stand to add about 500,000 sq. ft. of retail, and the NorthLake Mall will do fine, but it will limit how much else can go to Huntersville or Cornelius. Western Union county is dramatically underserved, and could stand several million more sq. ft.

[DigitalSky]

eh, what do they know. lol

[atlrvr]

apparantly not much since their closest office is in Atlanta, and the data they used is supplied by a company out of Raleigh, I'd say they have a pretty bad handle on the market....but what do I know.

[StevenRocks]

I don't know if I believe the report either. There are so many sections of the metro that are underserved, and there are a lot of older vacant properties that aren't suited for modern retail that are distorting the occupancy figures.