Commercial Occupancy Rate Increases in Stow
The planning and development director said the occupancy rate on Commerce Drive is up to 93 percent.
The city has been tracking the vacancy rate on Commerce Drive for the last seven years and just recently the commercial street jumped into the 90th percentile for occupancy. Planning and Development Director Rob Kurtz said the trend in the city overall is that the vacancy rate — for retail and industrial — has declined. Commerce Drive recently reached a 93 percent occupancy rate. "We're very happy about that," he said. In September of 2010 the occupancy rate was nearly 82 percent. By November 2011 it had increased to 85 percent and in January 2012 the street was 88.5 percent occupied. While the percentage has increased to 93 as of now, some of the buildings on Commerce Drive are only partially occupied, said Kurtz. There are two …
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James Thomas
1:42 pm on Friday, November 16, 2012
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