November Business

It was a pretty busy month last month around the big city of Branson, Missouri.  Our retail tenants nearly all tell us that business was great.  Seems the ones that actually track numbers monthly are reporting significant increases and the ones that are not so sophisticated are anicdotely telling us that times are rocking and rolling.  That is good news!

Our leasing has picked up a bit and we have successfully filled a few more spaces this last couple months.  Retail space seems to be tracking at or about the same occupancy level as this time last year.  Flat is, of course the new UP.  Year end numbers will be most telling, but at this time we are experiencing about a 15% vacancy in retail space in Branson.  So far, discussions with our tenants has caused us to have reasonably good expectations of holding on to the existing base of retailers.  We do have a few older tenants ready to retire and not interested in selling the business and are simply calling it quits after the end of this month.  That will leave a few small holes in one of our most sought after locations, but we don't anticipate a long vacancy period.

Office space is a reverse situation.  Current trends place vacancy at a pace to end the year at 4% higher mark.  That added on to the beginning of the years very high vacancy will not bode well for the future.  On the other hand, there has never been a better time to negotiate a great lease on space you may have never imagined your business to be at.  Downsizing, right-sizing, closures and consolidations have been the most recited reasons this year and the most obvious result is lower rents in nicer spaces for some. 

So, what an unusual report...  Retail tenants are expanding and office tenants are contracting. 

Look for Steve and I to publish our annual report some time in February.  We need the end of year break down of tax revenues and a short time to re-interview our friendly property owners and we will let all of our clients and customers know what the real story is in the real estate world of Branson, MO. as far as what happened in 2010 and what we expect to see in 2011.

Until then,  BUY LAND, they ain't making no more of it!