Survey shows strong shopping center renovation activity. (survey by Urban Land Institute) (Brief...

Renovations were undertaken by more than 20 percent of shopping centers in the last five years

The 1993 edition of the Dollars & Cents of Shopping Centers, a triennial survey conducted by the Washington, D.C.based Urban Land Institute (ULl), reflects strong renovation activity and an indication that urban shopping center construction may show an increase in the future.

Of the more than 700 U.S. shopping centers surveyed, more than 20 percent had undergone renovations in the last five years (see chart). Michael Beyard, the survey's project director, said, "A