John Zikos: Looking Back, Looking Ahead

Dec 31, 2013

D Real Estate Daily - December 31, 2013

I’m back in the office, trying to get a few more deals wrapped up, clean out hundreds of emails I couldn’t get through earlier, and continue planning for 2014. This is a great time of year, where I am thankful for the blessings of 2013 and the time off with family and friends, and I am excited about the coming New Year that lies ahead—and the new opportunities it will bring.

2013 was a good year, with both retail leasing and retail sales continuing to improve. Personal income and spending increased. Retailer same-store sales increased as well. Store closures slowed, and were outpaced by new store openings. Default rates on commercial notes significantly decreased. Several new retail developments were announced, and many of those broke ground during the year.

Almost everything you read predicts a strong 2014, especially in the great state of Texas! Everything listed above is projected to continue to move in the right direction. Stronger employment gains are also projected for 2014, which will help keep the positive momentum. The smaller tertiary markets should see more of the gains, both in leasing and sales, that were seen in 2013 in the larger metro markets.

With the slower pace of this week between Christmas and New Year’s, and the refreshment that comes from time with family, you can forget how difficult those 2013 deals were—and look optimistically toward 2014!