OFFICE SPACE
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1995
|
2000
|
|
Total
Number of Buildings
|
|
5
|
5
|
|
Total
Sq. Ft. Gross Leasable Area
|
|
245,600
|
245,600
|
|
Vacant
Sq. Ft. Gross Leasable Area
|
|
0
|
4,700
|
|
Vacancy
Rate
|
|
0%
|
1.90%
|
SOURCE: MPC
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- 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.
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