The lingering effects of the economic recession are putting a hold on many projects that could create Tucson retail jobs.
A Q1 2010 report from CB Richard Ellis found that many development expansion plans are on hold thanks to a decline in consumer confidence and the economic downturn and housing crash. Unfortunately, fewer developments means fewer new retail jobs, and that could be the situation for a few years.
Plans for a 6 million square-foot shopping center in Tucson are currently on hold, but there are some bright spots regarding the local retail industry:
- The Tucson Convention Center’s new east main entry is set to open this month.
- Guadalajara Grill purchased a 5,300 square-foot building, formerly Tony Roma’s restaurant, for $1.1 million.
- In-N-Out Burger purchased a 52,023 square-foot space at Oro Valley Marketplace.