Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/62026
BACK TO WORK RENOVATIONS HAVE CONTRACTORS BUSY AGAIN AS THE ECONOMY PICKS UP By Steve McLinden FTER SOME SPARSE YEARS, RETAIL CONTRACTORS ARE rebuilding their bases of clients and staff, thanks to a renovation push in the industry, steady increases in leasing, and stand-alone store and "green" construction. U.S. retail construction spending is set to grow from $46.2 billion this year to about $53 billion next year, with much of that attributable to store remodeling, according to Reed Construction Data. The year began on a high note, with retail construction spending 9 percent higher in January than a year ago, the Associated General Contractors of America reports. "The pickup reflects tenant improvements, as the surviving chains move into spaces vacated by 150 SCT / MAY 2012