By  on October 16, 2006

While the retail real estate sector has been left on the sidelines for a few years, its stability makes it a sound investment, according to Sam Chandan, chief economist and senior vice president at REIS Inc.

Chandan spoke during a Sperry Van Ness In­vestor Forum last week that focused on retail's outlook. "It is not a sector that will generate runaway income growth, but it will hold value better than offices and apartments," Chandan said, adding that retail is bolstered by stable consumer spending.

Retail is also stable in vacancy levels, as the majority of new construction has been of single-family homes and condominiums. In the tri-state area, Fairfield County is reported as the most successful for retail real estate, and northern New Jersey comes in a close second. The least profitable area was New Haven, Conn.

However, even the strongest retail markets in the area fall short of the national average for apartments and offices, according to Chandan.

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