by Bill McBride on 7/06/2010 11:59:00 PM
Tuesday, July 06, 2010
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From Reuters: US shopping center vacancy rates rose in 2nd qtr
For U.S. strip centers, the vacancy rate in the second quarter rose ... to 10.9 percent, slightly below the 11 percent in 1991 during the prior real estate bust ...At regional malls, the vacancy rate rose to 9.0% - the highest since Reis starts tracking regional malls in 2000. The record vacancy rate for strip malls was in 1990 at 11.1%.
"Until we see stabilization and recovery take root in both consumer spending and business spending and employment, we do not foresee a recovery in the retail sector until late 2012 at the earliest," said Victor Calanog, Reis director of research.
Posted by Bill McBride on 7/06/2010 11:59:00 PM