Thursday, September 13, 2018

Mall rents continued to fall in second quarter

Chain Store Age
The great American mall shakeout continued in the second quarter, with Class A malls in stronger markets flourishing and lesser properties struggling.

Mall tenants are the beneficiaries. Rents at malls fell 4.6% from Q1 and now stand 7.1% lower than they were one year ago, according to JLL’s Q2 Retail Outlook. Due to an abundance of anchor store closings, year-to-date net absorption surpassed 2 million sq. ft. . . . more