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A&P bankruptcy pushes central New Jersey retail vacancy rate up
The demise of The Great Atlantic & Pacific Tea Co. elevated the retail vacancy rate along central New Jersey’s major shopping corridors to 8.8% from 7.5% in 2014.
That’s according to the latest study by R.J. Brunelli & Co. Despite the uptick, the region’s 2015 vacancy factor remained a healthy distance from the 10.2% recorded in 2013 and the eight-year high of 10.5% set in 2011, but was well above the period’s low point of 4.8% posted in 2008.
