The year started with ice storms followed by tornados and then floods. The swarms of locus were the only missing calamity so far this year. According to preliminary numbers collected by the Branson Lakes Area Chamber and CVB, visitation appears to be off approximately 7% +/-. At one time during the spring, over 400 counties in our primary markets were labeled national disaster areas by the federal government. When $4 gas is added to the equation, Branson actually performed very well.
RETAIL OCCUPANCIES DROP SLIGHTLY
Even with a softening of the local residential markets…the retail sector appears to be holding its own. It is clear that the newer retail locations that have commanded higher rates are slower to rent and the older centers with lower rental rates have shown more leasing activity in the first half of the year. Many of the new visitors to the Branson area are buying more expensive items and are staying at more expensive, higher-quality hotel properties or condominiums.
OFFICE OCCUPANCY RATES IMPROVING
The area’s office market showed good improvement thanks to the recent commitment by the Veterans Administration to lease nearly twenty-four thousand square feet of The Executive Center for the VA’s new Branson clinic.
Occupancy for the local hospitality market continues to remain steady despite the pressures of weather catastrophes this spring and high gas prices.
Learn what markets and industries Commercial One Brokers projected to increase and prosper by year end…and what Branson and Taney County need as soon as possible. Ask about a full version of this report and view previous market reports at CommercialOneBrokers.com.
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