Report finds rising mall vacancy rate
The nation’s malls need new tenants.
The vacancy rate at malls is at a six-year high, according to Marketwatch, which cited a report by real-estate research firm Reis Inc. The vacancy rate reached 8.6% in the second quarter, up from 8.4% in the first quarter.
Strip malls and other neighborhood and community shopping centers are taking the hardest hit, suffering their worst quarter in nine years with a vacancy rate of up to 10.2%, the report said.
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The vacancy rate at malls is at a six-year high, according to Marketwatch, which cited a report by real-estate research firm Reis Inc. The vacancy rate reached 8.6% in the second quarter, up from 8.4% in the first quarter.
Strip malls and other neighborhood and community shopping centers are taking the hardest hit, suffering their worst quarter in nine years with a vacancy rate of up to 10.2%, the report said.
Click here to read more.