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Mall Vacancy Declines! (Tuesday's News & Notes)


This is news landlords have been eagerly waiting for: New York-based research firm Reis Inc. just reported that the vacancy rate for U.S. malls fell for the first time in three years in the third quarter, to 8.8 percent from 9.0 percent the quarter prior. The vacancy rate for strip centers didn't budge, but neither did it increase. (Here's a version of the story with a graph, courtesy of Calculated Risk).

Yet Reis researchers caution the retail real estate industry against too much optimism. Many long-term leases are set to expire in the fourth quarter, they say, and it's likely that in the current subdued retail environment, many tenants will not renew. For more stories on retail and retail real estate, follow the links below:

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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