by Calculated Risk on 7/08/2011 12:22:00 AM
Friday, July 08, 2011
From Reuters: US mall vacancies rise in 2nd quarter, rents flat
Preliminary figures by real estate research firm Reis show the vacancy rate at ... regional malls rose to 9.3 percent ... up from 9.1 percent in the first quarter.Click on graph for larger image in graph gallery.
The picture was even bleaker for U.S. strip malls where retailers gave up over half million more square feet than they rented. The vacancy rate at these local retail strips was 11 percent versus 10.9 percent in the first quarter, almost matching the 11.1 percent record set 20 years ago ...
As noted in the article, some tenants are still leaving as their leases expire. This is especially grim for strip malls.
To summarize the vacancy reports: Apartment vacancy rates are falling fast, office vacancy rates are moving sideways, and malls are still get crushed.
Earlier on vacancy rates:
• Reis: Office Vacancy Rate flat in Q2 at 17.5 Percent
• Reis: Apartment Vacancy Rate falls to 6% in Q2
Posted by Calculated Risk on 7/08/2011 12:22:00 AM