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U.S. Shopping Center Vacancies Rise as Unemployment Rate Climbs

Vacancies at U.S. neighborhood and community shopping centers climbed in the fourth quarter from a year earlier as unemployment lingered close to 10 percent, real estate research company Reis Inc. said.

The vacancy rate at shopping centers rose to 10.9 percent from 10.6 percent a year earlier, the New York-based firm said today in a report. It was unchanged from the prior two quarters, when the rate reached the highest level since 1991. The record of 11.1 percent was set in 1990, according to Reis data going back 30 years.