Friday, March 01, 2013 - 12:49 PM
The retail industry in northwest Ohio is still rebounding from the recession, but it isn't quite back to where it was previously. That's the message from Bob Maas of the Toledo based Reichle/Klein Group. Maas appeared on WFINat10 this morning and said there's a big difference in the amount of retail property being sold now compared to prior to the downturn... (Audio Below)
Maas says that smaller mom and pop retail establishments are finding there's value by not being in some of the higher traffic areas in the city... (Audio Below)
Maas says as a general rule of thumb, rent on Tiffin Avenue is $14 to $16 a square foot. On Main Street that price drops to around $8.50 to $9 a square foot.
He also gave an overview on how malls in the region are fairing in general... (Audio Below)
Maas says the malls that are doing well right now tend to offer more upscale options, but upscale malls may not be the right fit for every community.
Maas also answered the predominate retail question Findlay shoppers always ask - yes representatives from Target have looked at the city; and no, he doesn't know if they have plans to locate here yet.
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