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Quick S1nts <br />Chonge fram losl <br />Curreni Yr. Qtr. <br />TotolYucanry B,1°/n . <br />Leose Rnles $17.09 <br />'The arro+vs are trend indfcolnrs o�er 1he <br />spetified Iime perlod and do nol represent a <br />pos�Gve or negolive volue. (e.g., a6sorption <br />could be nego�ivq bot still rapresent a <br />posNive trend over o specified periadk <br />Hot Topics <br />� Landlord5 ore �ttempting ro backfill <br />big 6ox space with different uses. <br />� Bellanote, Smirh 8 H�wken close <br />stores. <br />� Gamestop, Noodles, M�ssoge Envy <br />Liltle Caesar's continue to look for <br />new sites. <br />• Panda Express, H8M, Planet Fitness, <br />Savers o!I opened new stores. <br />� Columbia Sportswear & Natthfa�e <br />enter ihe uplown area. <br />� Block6uster annountes clasing 200 <br />5tOr05 notlona��y <br />• Troder Joe's npens in Minnetonka <br />° F�IfIOtiS QflV� 5 �fl[t61311L8S Ir WI�� OpBfl <br />13 stares nariunnlEy <br />�� ��� <br />�= �`�� =�',�.d <br />,� ,�y.��;.. � �, %�'� <br />�"��� <br />�� f��� � ������� <br />w . <br />While the economy has no# yet recovered <br />from #he recession, many signs suggesi it <br />has flatrened out. The siock mprlcet has <br />rallied significanlly over the ppst few <br />monihs and €�as yet io see much of a pull- <br />back. Consumer confidence rose to 54.1 <br />in August from 47.4 in July. While still at <br />f�istoric lows, the consumer confidence level <br />rose much higher than economist <br />expectations of 48.0 (a reading of 90 <br />indicates a sofid, stobilized ecor�orny). <br />Locally, unemployment has dropped in the <br />Metro area despite rising nationally. <br />Employment numbers ar� ihe largest <br />indicator of future consumer spencfing <br />which rneans the Minnesota retailers should <br />be in a better position than other cities <br />r�a#innally. Going {orward, holiday seasan <br />sales will be a good indication of truly how <br />consumer spending trends have changed <br />due io the recession. <br />Capital market activity remains modest <br />as many investors search for the <br />ilfusive c{ualiiy asset from distressed sellers <br />ot a deep discount. There are still some <br />investors in the market cdpitalizing on the <br />decrease in values io acquire quality <br />Vacancy Rute v5 Lease Rate <br />............................................................................................. <br />� <br />8°!a <br />r� <br />b� <br />�- 5°h <br />e <br />� 4°h <br />3�O <br />2°k <br />T�a <br />6°/a <br />properties at depressed prices. <br />Qespite ihe overal) downturn, some <br />reiailers continue #o looic for sites. <br />Expanding faod concepts include Dunkin' <br />�onuts, Noodles, Five Guys Burger and <br />Fries, Panda �xpress, Smashburger, Little <br />Caesar's, and Sonic, Toys R Us is mp�Cing <br />an attempt to rarrtp up holiday toy sales <br />by opening seasoRal stores for the holiday <br />season. <br />Construction activity remains slow ps t€�e <br />natable developments cor�sist primarily in <br />tf�e iJptown area and the West �nd in St. <br />Louis Park whith will open in October. <br />Walgreens and CV5 cnniinue their baitle <br />for market share in the metro as each <br />continues to open new stores . <br />Third quarter indices showed negafiive net <br />absorpiion of (37,105f SF compared tn <br />(599,452) SF in the first quarter of 2009. <br />The negative nei absarption was s�read <br />across all center fiypes bui particularly hii <br />hard ha�e been non-grocery anchored <br />and smpller centers wiihoui convenience <br />stores such as Walgreens and CVS. <br />lrase Ro�e 517.t7 <br />VocanryRcEC 8J°h <br />............................................................................. <br />Sn <br />c� m v- � �n a-� -a �o � r� oa <br />d Q � � []i � p O O O � N <br />szo <br />� <br />S18 <br />T <br />S1G <br />S14 <br />0 0 <br />� N <br />�1 2004, C6 Richord Ellis, Inc. <br />