Monday, April 07, 2008

Strip-Mall Vacancies Hit 7.7%

by Bill McBride on 4/07/2008 01:59:00 PM

From Reuters: U.S. mall vacancy rates rise as economy slides (hat tip deuces wild)

The vacancy rate at U.S. strip malls rose to the highest level since 1996 in the first quarter of 2008 ... research firm Reis said on Friday.

Strip mall vacancies rose 0.2 percentage points from the preceding quarter to 7.7 percent.

By the end of the year, the rate likely will reach or surpass 8 percent, Reis said.
Strip mall vacancy rates were 7.5% in Q4 2007, 7.4% in Q3, and 7.3% in Q2.

The 8% estimate for the end of 2008 seems pretty conservative.