The share of free space in shopping centers in Moscow decreased
According to JLL, in the first three months of 2019, the share of vacant space in shopping centers in Moscow fell to 4,3%. This figure is the lowest since mid-2014 of the year.
This situation is explained by the minimal commissioning of new retail facilities during 2017-2018. During this period, eight shopping centers were opened in Moscow (278 thousand sq. M.), Which is half the number of new shopping facilities in 2015-2016.
“More than a third of metropolitan shopping centers have reduced unallocated space over the past year,” says Polina Zhilkina, head of retail consulting at JLL. “At the same time, there are a number of facilities on the market that record a significantly higher level of vacancy - of the order of 20-50%, which is explained by shortcomings in their location and accessibility, concept, and composition of key tenants. In such cases, the owner needs to analyze the current state of the mall, identify the root causes and develop a reconception plan. ”
Announced for 2019 year 320 thousand square meters. m of new proposals indicate the beginning of a new cycle in the retail real estate market. Among the objects announced for the 2019 year are the Salaris shopping center (110 thousand square meters), a shopping center within the amusement park Dreams Island (65 thousand square meters), Novaya Riga Outlet Village (38 thousand square meters). sq. m) and several regional shopping centers ADG Group. Taking into account the commissioning of all announced projects, by the end of the 2019 year, the share of free space is expected to increase to 5,1%.
According to JLL, in the first three months of 2019, the share of vacant space in Moscow shopping centers dropped to 4,3%. This figure is the lowest since mid-2014 ...
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Retail Arithmetic
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