Coleman Group - 2nd Annual Lexington Retail Market Study

Coleman Group’s 2nd Annual Lexington Retail Market Study June 22, 2007

Coleman Group, LLC, the publisher of the Annual Lexington Office Market Study, has prepared their 2nd Annual Lexington Retail Market Study. This study is designed to track vacancy and rent levels of retail space throughout the Lexington area. Ninety-eight retail centers were surveyed and then categorized according to location. An overview of the Lexington area economy and demographics is included in the study to present the business climate in which these Ninety-eight centers exist. Finally, a summary of the vacancy and rent levels was constructed to be used for comparison purposes for a specific property or properties. The vacancy and rent level summary as of June 2007 is as follows:

There is approximately 10,919,466 square feet (SF) of rentable retail space currently available on the market. At this time, 842,598 square feet is vacant indicating a vacancy rate of 7.72%. Factoring sublease space currently available, the overall market availability is 7.99%. The study included 98 buildings, 10 more than 2006, and additional buildings are currently under construction.

This compares with 2006 numbers of approximately 10,265.665 square feet (SF) of rentable retail space with 567,855 SF then available indicating a vacancy rate of 5.53 %. Factoring in sublease space then available, the overall market availability was 6.32 %.

If you would like to receive a copy of the Lexington Retail Market Study or any of the Office Market Studies, please go to Coleman Group’s website at www.ColemanGroup.net and use the Request Market Studies link or call 859-255-8855.