![]() On a not adjusted basis, the estimate of U.S. The overall consumer buying during the holiday period set a record for dollars spend according to the sales report issued by MasterCard spending Pulse. E-commerce sales in the second quarter of 2017 accounted for 8.9 percent of total sales. Retail sales climbed to 4.9% online retail increased 18.1%. US unemployment held steady at 4.1% however NJ unemployment rose from 4.7% to 5.0% according to the Bureau of Labor Statistics.The US economy will continue to grow at a steady pace barring any global adversity. Job productivity will be a key factor in the years to come.Tenants looking for upgraded amenities & beneficial working environments. Transit-oriented areas and certain clusters in New Jersey, such as the Short Hills-Summit and Newark office markets continue to see growth. Leasing velocity is up slightly and vacancy levels remained steady, however corporate mergers and acquisitions may create additional negative absorption in the future.Entertainment, food and experimental recreational opportunities may be the way retail establishments embrace the future to keep people coming out.Majority of the absorption came from Interchange 8A area to such companies as Home Depot, Wayfair, LG Electronics. Over 12.5MSF is currently under construction.The vacancy rate is 0% for big-box facilities available over 500,000 SF. An additional 9MSF was delivered (3.2MSF of which was delivered in the 4Q17). Strong demand for industrial space, fueled by e-commerce led to an historic amount of construction volume.The vacancy rate decreased 60% in that same five-year period to 4%. According to official data, clothing stores were the hardest hit as their April. In submarkets, such as the Meadowlands, leasing rates have increased almost 100% which is a concern to many companies coming up for renewal. For instance, total retail sales in the first quarter of 2020 fell by 1.6. The average leasing rate ($7.31 PSF NNN) increased over 46% on average within the last five years. Its system is comprised of independent franchise owners who accounted for over 97 of Domino's stores as of the fourth quarter of 2017. The end of year shaped up to be optimistic with GDP close to 3%, construction spending up, employment growth solid, and consumer confidence healthy. In the fourth quarter of 2017, Domino's had global retail sales of nearly 4.0 billion, with nearly 1.9 billion in the U.S.
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