U.S. Shopping Center Vacancies Rise After Year of Holding Steady
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Vacancies at U.S. shopping centers rose for the first time in a year in the second quarter as retail properties lagged behind the rebound by offices and apartments, according to Reis Inc. Regional mall vacancies climbed to the highest level on record.
The vacancy rate at neighborhood and community shopping centers rose to 11 percent from 10.9 percent, where it had stood since the second quarter of last year, the New York-based real estate research firm said today in a report. The rate for regional and superregional malls increased to 9.3 percent, the highest since Reis began collecting the data in 2000.