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Friday, October 07, 2011

Reis: Mall Vacancy Rates increased in Q3

by Calculated Risk on 10/07/2011 12:17:00 AM

From Reuters: U.S. mall Q3 vacancy rate at 11-year high -report

Preliminary figures by real estate research firm Reis Inc show the average vacancy rate at regional malls rose to 9.4 percent in the third quarter, the highest level since Reis began tracking regional mall vacancy rates in 2000 and up from 9.3 percent in the second quarter.
The vacancy rate at ... local retail strips was 11 percent, flat with the second quarter, Reis said. ... "With demand remaining so weak and more new completions anticipated to come online in the remainder of 2011, there is still a good chance that the vacancy rate will match the 11.1 percent record high observed in 1990 sometime later this year," Reis senior economist Ryan Severino said.
Strip Mall Vacancy Rate Click on graph for larger image in graph gallery.

The vacancy rate for regional malls is the highest on record, and the vacancy rate for strip malls is just below the record set in 1990. It is still very ugly for malls ...

• On the employment report tomorrow: Employment Situation Preview: Another Weak Report

CoreLogic: Home Price Index declined 0.4% in August
Weekly Initial Unemployment Claims increase to 401,000
Reis: Apartment Vacancy Rate falls to 5.6% in Q3