Issue link: http://www.insightdigital.biz/i/80745
INSIGHT ON COMMERCIAL REAL ESTATE By MaryBeth Matzek Holding steady Office and manufacturing space sees some growth; retail, not so much C buildings? Things might not be going too well. See companies building new locations? It's likely the economy is in a growth mode. Right now, the commercial real estate ommercial real estate is a simple, visible way to gauge how the economy is doing. See a lot of vacant storefronts or market is between those two extremes with some areas seeing growth while others deal with excess capacity. "Targeted development is still happening," says Ken Zacharias, a www. insightonbusiness.com While retail growth is relatively slow, some companies like Cabela's are moving forward with plans to set up shop in the New North. Construction on the massive 100,000-square-foot store has already started in Green Bay. shareholder in Schenck SC's Green Bay office. "The development we're seeing is if a company is expanding or a company wants a new location." A perfect example of the latter is the massive Cabela's going up in Green Bay, he adds. Cabela's wanted to be in the market and the outdoors retailer found a site to fit its needs. Construction on the massive 100,000-square-foot store has already started and is slated to open next year. "Since the economic downturn, speculative development is not happening. You need to have signed leases, quality tenants and cash put in by the developer if you want a project to happen," says Zacharias, adding that financial institutions won't move on a project unless those three items are in place. Manufacturing is one [continued] » September 2012 • INSIGHT | 33 PHOTO COURTESY CABELA'S