U.S. Shopping Center Rents Climb Amid Little Development
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Rents and occupancies at U.S. shopping centers rose in the second quarter amid little development of properties, research company Reis Inc. said.
Occupied space rose by a net 2.06 million square feet (191,000 square meters), the third-largest addition since the slump for neighborhood and community shopping centers began in the first quarter of 2008, according to a report today by New York-based Reis. The so-called net absorption figure compared with a loss of 39,000 square feet a year earlier.