The Hoyt Organization on LinkedIn

Wednesday, January 23, 2013

Retail Centers See Modest Growth

U.S. malls and strip centers saw slight growth in the fourth quarter, but experts say the wobbly economy and recent disappointing holiday-shopping season point to a lackluster 2013 for retail landlords.
The average vacancy rate at malls in the quarter declined to 8.6%, down one-10th of a percentage point from the previous quarter, according to a new report from real-estate research firm Reis Inc. REIS +0.81% Mall vacancy has declined five quarters in a row since the industry hit a 12-year high of 9.4% in the third quarter of 2011, said Reis, which tracks the top 77 U.S. markets.

Weingarten Realty Investors
Rendering of a Petsmart store to be opened this year at the Six Forks Station center in Raleigh, N.C.
At strip centers, the rows of shops facing a common parking lot and often anchored by a grocery store, average vacancy declined to 10.7% in the fourth quarter from 10.8% in the third. That is just 0.4 percentage point from the highest vacancy rate in this category since Reis began tracking the figures: 11.1%, registered in the third quarter of 2011 and at year-end in 1990.

Read the full article here:


Post a Comment