Positive outlook for retail leasing, construction in Northeast

New York -- The outlook for retail in the Northeast remains quite positive, with demand from national, local and franchise companies across a broad range of categories, according to Levin Management.



“Vacancies are declining and rents are trending up at quality properties,” said Matthew K. Harding, president, Levin Management, North Plainfield, New Jersey. “Importantly, developers have again become active in our region, which indicates growing confidence in the future of the retail sector here. Improving fundamentals also have led to an increase in investor interest, and we are seeing more properties trading than in the recent past.”



Leasing has picked up markedly among tenants looking to establish or expand their footprints in the Northeast, Levin said, with grocers, affordable fitness chains, off-price retailers and fast-casual restaurants among the most active categories.



“A continued low interest rate environment bodes well for the positive construction and investment activity we are seeing, and, as such, we will be keeping a close eye on that critical driver in the months ahead,” Levin said.



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