Sean Glickman Announces New Retail Market Research Report for Q2 2013
Maitland, FL (PRWEB) August 03, 2013 -- Each quarter, the Glickman Retail Group, experts in the Florida retail investment arena, conducts in-depth research into the US retail markets. This includes strategic analysis of each industry segment, an examination of each retailer’s financial health and a store productivity guide. Sean Glickman, the firm’s managing director, announced the release of its Q2 2013 report, covering the national, Tampa/St. Petersburg and Orlando markets, which shows retail as the best performing market sector across the nation.
Glickman Retail Group’s recent research demonstrates an overall positive outlook for the economy, which continues to gain momentum, even though June reveled disappointing economic reports along with a recent reduction in consumer spending. Companies add to payroll, consumer confidence reached 84.1 percent -- its highest level since 2007 -- unemployment estimates for June are at 7.5 percent, lower than 7.6 percent in May, and more. “We are clearly in the fourth year of recovery,” said Sean Glickman of the retail real estate investment firm. “The housing, equities and credit markets are all demonstrating that the economy has the strength to grow and accelerate at a much faster pace.”
The report finds that retail is still the best performing sector in 2013, as anchored shopping centers and retailers posted another gain of NOI income rising 5.5 percent since Q1 2012. Neighborhood centers increased 6.8 percent and power centers increased by 7.7 percent. Shopping center vacancy fell by 30 basis points year-over-year to 10.7 percent, while rents increased by only 0.5 percent. The new research shows that retail development continues to be at historic lows which will help further reduce vacancies and increase rents.
“Two forces are at play here,” Glickman, an authority on shopping center investments in Florida added. “The economy and e-commerce. Both have caused stiff competition for mid-priced hard goods retailers. Dollar stores, discounters and off priced retailers continue to thrive as well as luxury and high end stores.” According to the report, grocery stores and restaurants led the strongest bricks and mortar growth and restaurants will account for 42 percent of new retail units in 2013.
The Q2 reports says that Orlando’s housing market comeback will continue to contribute to the retail market’s stability. Orlando's shopping center market consists of 1,357 projects totaling 63,439,698 square feet of retail real estate space. 2013 sales activity of neighborhood and community shopping centers was up compared to 2012. Eighteen transactions closed up to date with 152.9 million dollars in sales volume, a mean price of 59 dollars per square foot and a mean cap rate of 8 percent. The 12 month rolling cap rate is at 7.2 percent.
Figures show that Tampa/St. Petersburg too, is moving beyond the recession. Its community and neighborhood sector has shown positive signs and the lack of new supply has helped absorption and vacancy rates. Vacancy ended at 11.8 percent, down 40 basis points year-over-year. Ten transactions closed up to date with 56.3 million dollars in sales volume, a mean price of 208 dollars per square foot and a mean cap rate of 10.4 percent. The 12 month rolling cap rate is at 8.1 percent.
Visitors to Glickman’s site can download the full report at: http://glickmanretailgroup.com/retail-market-research-q2-2013/
About Glickman Retail Group
As a leading expert in the retail real estate industry, Glickman Retail Group’s expertise at providing institutional grade investment analysis, formulating strategies and problem solving is unmatched. As an objective advisor its primary focus is to help clients make the most effective investment decisions. Working with its team clients can maximize the value of their assets and create wealth for their investors.
For more information, visit: http://glickmanretailgroup.com
Sean Glickman, Glickman Retail Group, http://glickmanretailgroup.com/, 407-902-6660, [email protected]
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