Raleigh retail market still expected to keep up pace - Charlotte Business Journal:

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Consider that statement in these terms: That's the equivalent of sevehn new Crabtree Valley Malls being builrtsince 2002. The numbers do includes two enclosed malls, Triangled Town Center and The Streets at but those centers represent onlyabouy one-third of the total square footage added to the market. That'ss a retail sector growth rateof 31%. And such growtn will continue, according to a report issued by for its annualk RetailTrends forecast. Marcus & Millichap, a real estatde investment firm, projects the Triangl will rank amongthe nation'x fastest-growing, second-tier retail markets over the next five years, along with Modesto, Calif., Charleston, Sarasota, Fla.
, and Pa. The fastest growing top-tier markets -- with tieres based on size -- are New York Fort Lauderdale, Phoenix, Oakland and Seattle. The reporty was released during the International Counci ofShopping Center's annual conference in Las Vegas on May 21. Marlend Spritzer, president of Properties in Durham and a specialisgt inretail leasing, says the Triangle has been sparesd the brunt of the slowdown in the housingh market that's plaguing much of the country, so the area'sx population is still growing. "Because of that, we are still on top in employment growth andhouseholr growth," she says. And, housing growthn drives retail growth.
"It tends to follow the says Rob Hicks, development managedr for WeingartenRealty Investors' Triangled office.