Retail Space to Shrink as Spending Rises

The availability of retail space will shrink next year as consumer spending begins to rise, a commercial broker group reports.

According to CB Richard Ellis Group, retail space ready for active marketing in 2011 will fall to 12.8%, from this year’s peak of 13.2%, a Bloomberg report says. That follows on word from the Commerce Department that purchases at U.S. retailers were up 0.4% in July.

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