Looking for Retail? - Winter/Spring 2004

Quick to follow residential development is commercial development.  Look for a positive change in the downtown retail landscape as the surrounding residential develops.  The downtown commercial property transactions are at an all time high and prices are setting new records.  Recent single story retail and restaurant buildings have sold for as much as $260 per square foot downtown and $450 per square foot in Burns Court.  Parking and positive year round foot traffic remain the challenge as downtown  works to create an environment attractive to retailers willing to pay the rent required to support these sales prices.