Bright future seen for LI commercial real estate retail sector
Shoppers pack Polo Ralph Lauren at Tanger Outlet Centers in Riverhead at 1 a.m., an hour into Black Friday, the traditional start of the holiday shopping season the day after Thanksgiving. (November 26, 2010) Credit: Randee Daddona
A new nationwide survey of the commercial real estate industry indicates that, in the retail sector, Long Island could be one of the three best-performing regions in the U.S. through 2012.
The other two regions are Nashville, Tenn., and Fairfield County, Conn.
The 2011 PwC Real Estate Investor Survey was conducted by PricewaterhouseCoopers.
It includes a section titled PwC Real Estate Barometer, which “indicates that the fundamentals of the commercial real estate industry are slowly improving and supports the consensus among surveyed investors that the industry is moving past the bottom of the cycle.”
There may be some variation among regions in rebounding from the country’s long economic ills, the study says.
“Individual retail markets that are expected to perform better than this sector as a whole include Long Island, Nashville, and Fairfield County, which are each expected to be in recovery through 2012.”
Photo: Shoppers at Polo Ralph Lauren at Tanger Outlet Centers in Riverhead at 1 a.m., an hour into Black Friday. Long Island's shopping enthusiasm may be reviving its commercial real estate retail sector, a survey says. (Nov. 26, 2010)
