Featured Property:
Restaurant - Downtown on the Market
FOR LEASE - This restaurant is located on the market at the intersection of Market Street and Kirk Ave. The suite has a large dining area, private dining area, wine cellar for tastings and the opportunity for outside dining in front of the restaurant. Currently, the restaurant is set up with seating for 127 and an additional 25 seats outside.
Call Bryan or Richard for more information.
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Market Report
Retail Vacancy Up Slightly in 2012 Despite Declining Rents
The local retail market sputtered in 2012 with an overall negative absorption of 51,514 square feet. However, it seems the market finally is responding with lower rental rates. The average quoted rent at the end of 2012 was $13.59/sf which represents a decrease of 2.87% over the prior year.
Look for the vacancy rates to decrease significantly in 2013 in response to the lower rates and as the economy begins to improve again.
source: www.costar.com
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