Store Openings to Increase in 2011, While Pace of Store Closings Will Decrease Slightly

Written by Elaine Misonzhnik [December 22, 2010 RetailTrafficMag.com]

Article submitted bySaurage Rotenberg Commercial Real Estate

The retail real estate industry will face another slow growth year in 2011, though the pace of store openings will gradually improve throughout the coming months, industry insiders predict.

Given the current brisk pace of holiday sales and availability of vacant storefronts at affordable rents, retailers with cash in their coffers will step up expansion announcements in 2011, says John Bemis, executive vice president and director of leasing and development with Jones Lang LaSalle Retail, an Atlanta-based third party property manager. In 2009 and 2010, store openings decreased slightly year-over-year for both the Jones Lang LaSalle portfolio and the U.S. retail sector overall, he notes. But starting next year, many discretionary retailers will finally be in a position to open new stores.

Ann Taylor, for instance, plans to open 40 new stores in 2011, compared to only five in 2010. Sterling Jewelers expects to open 25 new stores…

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Saurage Rotenberg Commercial Real Estate was established with the goal of providing outstanding professional commercial real estate brokerage services. Comprised of highly-skilled, certified professionals, and experienced marketing experts with diverse backgrounds Saurage Rotenberg Commercial Real Estate is comprehensively experienced in every aspect of the commercial real estate industry—an advantage that allows us to provide a full range of services based on our clients individual needs and objectives.

Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).