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Reis: Mall Vacancy Rate rises in Q2

By Anonymous

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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 ...

"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.

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%.

Full post as published by Calculated Risk on July 07, 2010 (boomark / email).