More Retail Development Expected in Sioux Falls
SIOUX FALLS – A Sioux Falls real estate developer says South Dakota’s largest city is expected to see even more retail development in coming years.
The Argus Leader reports that Michael Bender says that the city experienced 2.3 percent job growth and more than $490 million in building permits last year.
Bender says the city is expected to continue to grow in 2013 with additional announcements of large retailers coming to the market.
In 2012, office vacancies dropped, retail vacancies remained low and sales of investment apartment complexes were strong.
Bender says one of the best indicators of an expanding economy is the amount of new commercial construction, which historically in a growing economy outpaces remodels and additions. In Sioux Falls, that happened last year for the first time since 2006.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.