Magazine article Mortgage Banking

Marcus & Millichap Releases Retail Market Research Reports

Magazine article Mortgage Banking

Marcus & Millichap Releases Retail Market Research Reports

Article excerpt

MARCUS & MILLICHAP REAL ESTATE Investment Brokerage Company, Palo Alto, California, has released retail research reports for Dallas, Detroit and Denver. According to the Dallas report, at 3.1 percent, unemployment continues to be near its all-time low; in 1999, 57 percent of new retail product was completed in the second half of the year; despite new construction, vacancy remained stable at 11 percent, due to high demand and strong leasing activity; rental growth slowed to 2.7 percent in 1999, the smallest increase in five years; and retail property transaction volume was stable last year, in contrast to the slowdown in the apartment and office markets.

The Detroit report shows that the strong job market has reduced outmigration from 26,900 in 1993 to only 9,900 in 1999, and job growth remained consistent during the last 12 months at 1.3 percent; retail completions decreased by 10 percent in 1999, to slightly more than 2. …

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