The retail industry is reeling from the persistent announcements of store closures across the United States. The retail sales statistics have been weak and the retail employment losses in March were highlighted in every media outlet. But where have the losses hit more and what can be expected in the next year or so?
When looking at the numbers, the story is not as bad as many have
reported. The retail vacancy rate for neighborhood and community
shopping centers was flat in the first quarter at 9.9 percent, the same
as in the first quarter of 2016. Moreover, rent growth was positive, at
0.3 percent for the quarter. The mall vacancy rate only climbed to 7.9
percent from 7.8 percent at the end of 2016 and rent growth was 0.4
percent during the quarter.. . . more