Retail growth picks up during July

Retail growth should help the commercial real estate market.

Property management companies with retail properties across the country witnessed an improved state of affairs during July, as overall sales improved, stopping a three-month slide, according to a report from Marcus & Milichap.

Total retail sales climbed 0.8 percent compared to June, which brought the annual figure higher than 2011 by 4 percent. Core retail sales rose by nearly 1 percent, and its annual rate was not much different from total sales, the report noted.

"From a brick and mortar standpoint, the fundamentals remain stable," John Chang, vice president of research services for Marcus & Milichap in Phoenix, told the news source. "Retail real estate has had positive absorption for 11 consecutive quarters."

Chang added that retail real estate has not seen significant absorption in the past, despite a positive trend dating back to the fourth quarter of 2009.

The report added that the market may not be able to take off completely until after the election, as this may paint a clearer picture of the economic market, as well as what political policies will affect the retail sector.

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