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|Monday, March 15, 2010|
The good news about the Portland metro area’s dismal retail scene is that vacancies will rise only slightly this year. The bad news isn’t too hard to figure out: high unemployment will continue to keep the lid on any robust recovery. “The outlook for 2010 is subdued,” says real estate expert Tony Cassie. “We’re starting to come out of it, but we’re not going to really come out of it until job numbers improve.”
Yet the Portland area surprisingly moved up six places to No. 14 in the national retail index, a snapshot analysis that ranks 44 retail markets based on 12-month future supply and demand indicators. No. 1 was Washington, D.C., because of low vacancy rates and healthy job growth.
Robin Doussard is editor of Oregon Business.
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