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Cole Village Shopping Center - Owner Representation Case Study

In 2003, the Cole Village Shopping Center was a well-located, but aging and un-anchored neighborhood center. The property’s ownership resided out of state and vacancy hovered around 50%. While the center’s surrounding demographics were appealing and traffic counts were strong, the property suffered from significant deferred maintenance and a weak tenant mix. At this juncture, the property’s owners decided that the time was right to sell.

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Commercial Real Estate Review for June

Total office vacancy declined from 12.7% to 12.6% in May. Multi-tenant vacancy reversed its 4 month climb and dropped to 18.8%. Read the rest of entry »