The top 10 U.S. metro areas ranked by projected strength of their retail markets.
Real estate advisory firm Grubb & Ellis has provided the top 10 U.S. markets for retail growth over the next five years in its "2008 Global Real Estate Forecast." The firm analyzed 15 demographic, economic and real estate variables, such as population growth, job growth and "barriers to entry" (level of competitiveness for a developer to enter a region), and scored each U.S. metro area by its overall forecast retail growth. New York is noticeably absent from the top 10. "It's a hard market to get into," said Robert Bach, senior vice president and chief economist. "We give a high rating to job growth, and job creation in the New York area is relatively low, especially compared to markets in the South and West." Regarding the top 10, he stated, "We believe these regions will hold up well over the next two years and will outperform in the next five."
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