Follman Properties predicts ...Future retail growth to head west, southwest

Strong office growth and a reinvigorated retail sector for 1999 is the prediction from Follman Properties ? ONCOR International's Springfield office.

One of the top 50 sites for business and industry relocation and expansion, Springfield is experiencing tremendous commercial growth, according to a news release from Follman.

"The retail market is making a comeback," said Mark Snow, sales and leasing associate with Follman, in the release. "There is a lot of new shopping center growth, some of which is being absorbed."

Most of the new retail growth is still occurring in southeastern Springfield, where growth has remained steady for several years.

This area includes many "big box" users, such as Wal-Mart, Target and Best Buy, as well as a new Bassett Furniture store.

While growth has been strong in this area, it is expected to diminish as ground becomes less plentiful, the release stated.

"In the future, retail growth will begin to move to west and southwest Springfield," Snow said.

"There is a lot of new residential growth in these areas, as well as in Ozark, just south of Springfield," he added.

Retail on the north side is also gaining momentum, according to Follman Properties, with a new Walgreens under construction at Kearney and Kansas, and Fazoli's, Applebee's and H&R Block locating in the area.

National retailers are continuing to open locations in Springfield.

The area's first Gateway 2000 store is open, and Barnes & Noble recently completed its new store across from Battlefield Mall.

In addition to national retailers, Springfield is seeing an increase in technology-related retail. AT&T branches have been popping up throughout the metropolitan area, and several regional computer retailers have also leased space.

Follman properties predicts that, with strong residential growth and steady commercial gains, the Springfield metropolitan area will continue to see consistent growth throughout 1999.

[[In-content Ad]]