The retail real estate world in metropolitan Kansas City began its return from the wreckage of the Great Recession last year,but it’s still a bumpy road,and there may be more casualties in 2012 according to a Kansas City Star article.
That’s the word from Lane4 Property Group,which recently issued its 2012 Kansas City Retail Report,an around-the-horn review of retail development in the area. The respected development firm said it was hard to pin down when things began turning around last year,but life did return to the market,at least in most areas.
“The recovery may still be tenuous and inconsistent,but it is certainly a welcome improvement,” Lane4 reported.
Still,don’t expect much in the way of new retail development to occur,particularly around the outer edges of the area,and there are some shopping centers in nonprime locations that will probably face foreclosure in 2012. No names were mentioned.
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