Posted By Dan Rafter On March 20, 2014 (11:16 am) In Homepage, Midwest Real Estate News, News
The Summit Lexington will bring new retailers and multi-family residences to Lexington. Retail is on the rise in Lexington, with three major retail developments set to bring new energy to the heart of this key Kentucky market.
And for Al Isaac, president of Lexington’s NAI Isaac, this is good news not only for the city but for its surrounding areas, too.
“If you think about the size of our market and the size of the new retail developments coming in, there is some exciting activity in Lexington right now,” Isaac said.
The good news? The long-term trend for retail in the Lexington market looks positive. According to NAI Isaac’s 2013 year-end market report, the retail vacancy rate stood at 6.37 percent at the end of 2013. And Isaac said that this sector has remained a consistent one.
Even during the worst days of the Great Recession, the…