SHOPPING CENTERS
|
Shopping Centers
|
1994
|
2000
|
|
Total Number
|
9
|
9
|
|
Total Square Footage
of Gross Leasable Area
|
640,284
|
652,959
|
|
Vacant Square Footage
of Gross Leasable Area
|
67,172
|
32,800
|
|
Vacancy Rate
|
10.50%
|
5.00%
|
SOURCE: MPC
|
- The Chapman Highway
corridor comprises 80% of the commercial development in this sector.
Most of the development is shopping centers or strip commercial. Some
major issues on Chapman Highway are: lack of sidewalks, multiple curb
cuts and a proliferation of signs.
- Some structures are
underutilized and have remained vacant for many years (e.g. the bowling
alley).
- There was mild growth
in shopping center development. Between 1995 and 2000, this sector
gained 12,675 square feet of gross leasable area, while vacancy rates
were reduced from 10% to 5%. Chapman Square, the second largest shopping
center in this sector, had 17,000 square feet of vacant gross leasable
area or 16% vacancy rate in year 2000.
|
