Thursday, January 31, 2019

How Many More Store Closures Are Expected in 2019?

NREI
Despite headline-making store closings by Sears, Bon-Ton, Kmart,and others over the past few months, U.S. shopping center and mall owners have been working hard to hang on to tenants. However, they are likely gearing up for another challenging year as more store closures are anticipated in 2019.

Research firm Reis Inc. reported that the overall U.S. retail vacancy rate in the fourth quarter of 2018 remained flat at 10.2 percent. The vacancy rate are regional and superregional malls dropped slightly to 9.0 percent from 9.1 percent in the third quarter, which marked a seven-year high.. . . more