Low demand for retail space expected to continue through 2009

Retailers are curbing growth plans, leading to a slowdown in new retail construction. Some developers have postponed projects by a year or more as lenders remain stingy and retailers decrease their demand for space. "Retailers are clearly opening fewer stores, and they're being more aggressive" in negotiations with landlords, said Michael Glimcher, chairman and CEO of Glimcher Realty Trust.

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