Retail Construction Delivers Some Spice, Mostly Meat and Potatoes

In 2006, NASA launched the New Horizons spacecraft for a nine -year mission, the Steelers defeated the Seahawks, and the Nintendo Wii was introduced to America’s youth. It was also the year retail development in the U.S. hit an all-time high of 261 million square feet under construction, with ambitious mega entertainment facilities underway. Within five years, construction halted in 2011 and new deliveries plummeted 77 percent to a mere 59 million square feet. Today, U.S. retail sales have fully recovered, yet national retail construction remains at low levels.