Oct
11

Report: U.S. Mall Vacancy Rate at 9.4%

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Vacancies at U.S. regional shopping malls rose to 9.4% in the third quarter (ended Sept. 30), according to property-research firm Reis, Reuters reported. It represents the highest level since Reis began publishing the data in 2000, and was up from 9.3% in the second quarter.

Landlords’ asking mall rents rose to $38.81 per square foot in the third quarter, up from $38.77 in the previous three months and $38.72 a year earlier, according to Reis.

Vacancies at community and neighborhoods centers were 11%, unchanged from the second quarter, and slightly up from last year’s 10.9%. Rent averaged $16.54 per sq. ft., including any landlord concessions, down from $16.58 a year earlier and unchanged from the second quarter.

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