- The vacancy rate at malls rose 40 basis points from 8.7 percent to 9.1 percent during the quarter. As a result, the vacancy rate surpassed the previous high of 9.0 percent posted in the second quarter of 2010.
- Asking rents fell 0.1 percent during the quarter, nearly negating the 0.2 percent gain posted in the fourth quarter of 2010.
- Because of the deterioration in rents from the third quarter of 2008 to the present, rents are now back to levels last observed in the second quarter of 2006.
Source: Reis Inc.