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Retail consultant: Germantown has low overall vacancy; tools and targeted incentives can help fill mid-box spaces
Summary
Consultant Russ Sagmon of Colliers told the Germantown Economic Development Commission that the village’s retail inventory (about 1.7 million sq ft) shows roughly 4.4% vacancy and that data tools such as CoStar and Placer.ai, plus targeted façade grants and owner outreach, can improve re-tenanting of mid‑box properties.
Russ Sagmon, a partner in Colliers’ retail group, told the Germantown Economic Development Commission on Feb. 10 that the village’s retail stock totals roughly 1,700,000 square feet and that vacancy is low by regional standards. “Of the 1,700,000 square feet, there’s about 4.4% vacant,” Sagmon said, adding that about 6% of space is currently listed on the market, including sublease offerings.
Sagmon said his firm uses industry data and foot-traffic analytics to advise municipalities and retailers. “We use a thing called Placer AI, which is cell phone tracking data,” he said, explaining the tool’s…
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