The Traverse City Downtown Development Association has released its Retail Report for the 4th quarter of 2012. Some of the highlights:
A net loss of 8,000 square feet of retail space: even though 11,000 square feet was added via the Ambrosia gelato shop on West State and the new Hagerty Building on Lake Street, more square feet was converted out of retail – the former Bye Candlelight furniture store (now Traverse Vision) and two large spaces in the Front Street Commons that are now offices.
Restaurants and bars continue to grow – 54 to date, up from 50 in Dec. 2011.
The apparel, shoes, jewelry and accessories category increased 21%, now with 44 such stores in the DDA District.
Vacant space lost ground, largely due to the occupation of the former Lighting Center on Hall Street into a retail nano-mall, increasing the overall number of spaces downtown from 203 to 212.