Thursday, June 29, 2017

US retail mall vacancies edge up in second quarter

A Macy's store at CityPlace in West Palm Beach, Florida.U.S. retail mall vacancies increased in the second quarter and rents were slightly higher, real estate research firm Reis said in a report.

The national retail vacancy rate rose to 10 percent in the second quarter from 9.9 percent in the first quarter, partly due to new construction that was only partially absorbed by new leasing, Reis said.

The mall vacancy rate inched up 0.2 percent to 8.1 percent in the quarter from the earlier quarter due to confirmed closings of Macy's stores, the research firm added.. . . more

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