Not a bloodbath. Reeling retailers cut stores. Starbucks, Meryns, etc are closing stores.
Mike Moser, senior vice president of CB Richard Ellis, said San Diego’s retail real estate market is “still pretty healthy.” Vacancy rates have risen from an average of 1 percent to 1.5 percent last year to about 2.5 percentto 3 percent this year, he estimated.
“A neighborhood shopping center that was full a year ago may have one or two vacant spaces in it now, but that is coming off a market that had almost no vacancies,” Moser said. “It’s not like there is a bloodbath out there.
