Retail occupancy hits record loss in Q1 - Dallas Business Journal:

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president of . Retail centert occupancy includes the occupancy ratess of neighborhood andcommunity centers, strip centers and regional Roddy’s latest survey indicates that in the first quartert retail center out-migration hit 1.3 millio n net square feet, and the D/FW area’s overallp occupancy level hovered at 84.33 which is down from 85.97 percent during the first quarte of last year. The current occupancy level is significantlyg lower thanthe D-FW area’sx peak retail occupancy rate of 89.58 which was reached in the first quarter of 2005, accordinyg to Roddy Information Services.
On a submarkeft basis, the areas making the biggest loseres list in terms of retail occupancy were Nortn Richland Hills with an occupancy rateof 73.97 followed by mid-Arlington (69.11 East Plano (78.15 percent); Far North Dallas and Benbrook (55.38%). The submarkets that experiencedd the most gains in termds of occupancy included Southwes Fort Worth with a rateof 90.50 Duncanville/Cedar Hill (84.60%); Northwesyt Tarrant County (76.31%); Farmer’s Branch (85.89%); and Richardson The average rental rate for D-FW retail centers hit its highes t point at $17 to $16.900 per square foot during the first quarte of this year.
“During this real estatee cycle, I have seen the averages rental rate for retail centers in the Metro slip downwarsd for a quarter and then rise back up in thefollowintg quarter,” said Roddy. “However, this time, with the current economic conditions, I do not expect to see this type of recoverh in thenext quarter. This time, I expect the averags rent will continue to adjustslightlyy downward.
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