TrafficCourt

Shopping Center Vacancies Inch Higher

RSS
The vacancy rate for U.S. neighborhood shopping centers inched up in the third quarter, and rents posted their weakest rise in four years, reflecting retailers' concerns about the economy, real estate research firm Reis said.

"There's uncertainty in the market about how consumers will react to the changing market conditions, how they'll react to the slowing market," Reis Chief Economist Sam Chandan said. "Retail sales are slower than they have been over the course of the cycle and that's certainly a concern."

"For the larger national chains and regional malls, it has yet to translate into a significant shift in the occupancy rate," he added.

The national vacancy rate for local shopping centers rose to 7.4 percent in the third quarter from 7.3 percent in the second quarter, according to the report released on Friday.

More here.

Please or Register to post comments.

What's TrafficCourt?

Industry news, views and occasional strange stuff.

Contributors

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...
Blog Archive
National Real Estate Investor Related Sites

Sponsored Introduction Continue on to (or wait seconds) ×