FORT WAYNE, Ind. (Indiana's NewsCenter) - Last year marked a 10-year-high for vacancies in shopping centers, but at least one local property management group feels the retail landscape is improving.
At Jefferson Pointe, they have only a few vacancies and a number of stores are under construction.
They still say it's a retailers market and they've adapted with "short term" leases for small businesses with a desire to grow.
Jefferson Pointe's management feels the business climate is considerably stronger than the last 2 years.
Jefferson Pointe General Manager Mike Brooks says, “If you would have asked me two years ago I would have told you this is a terrible time to be in the shopping center business, but we're seeing things turn around. The 2nd quarter of 2010 we've seen significant improvement from a leasing standpoint.”
Madeline's Bakehouse will be the newest store to open at Jefferson Pointe tomorrow. Some other retail properties around the area are still struggling with vacancies.
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