(Crain’s) — The amount of retail space available for rent in New York area community shopping declined in the second quarter of the year as consumer confidence rose, and emboldened retailers to lease up more space.
The retail real estate availability rate in what are officially defined as “community and neighborhood centers” in the New York area stood at 8.4% in the second quarter. That’s down from 8.7% in the first quarter and 8.5% in the second quarter of 2009, according to a nationwide retail study released by CBRE Econometric Advisors on Wednesday.
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