Available commercial retail space in Lexington increased 47 percent between Jan. 1 and June 30, according to NAI Isaac Commercial Properties' mid-year market report issued Thursday.
The report noted that some vacancies were created by the bankruptcies of Circuit City, Linens 'n' Things and Goody's. And though most expansion is on hold for casual restaurants, it noted that Chick-fil-A, Zaxby's and Raising Cane's continue to expand.
Overall, about 9.3 percent of retail space is available.
Asking rents have softened, the report said, but "retail vacancy rates remain in check as the market has not suffered from overbuilding."
In other categories, vacant office space in the Central Business District increased 19 percent, vacant office space in suburban areas fell 1 percent, and industrial vacancies fell 3 percent.
The report also noted that sales of commercial properties fell dramatically from 2008 to 2009.
Citing property valuation administrator data, the report noted that 42 commercial parcels were sold between Jan. 1 and May 1, compared with 93 in the same period in 2008.
"We were pleased with the results, in that we view Lexington as a bright spot," said Paul Ray Smith Jr., executive vice president at NAI Isaac. "While we have some vacancies for the market to absorb, we think this can be accomplished in a reasonable amount of time."
Reach Scott Sloan at (859) 231-1447 or 1-800-950-6397, Ext. 1447.