Mall Vacancies Jump at Fastest Pace on Record, Hitting New High, as Retailers Cull Store Counts
April 14, 2021
Article by: Lauren Thomas
- The vacancy rate for regional malls in the U.S. reached record 11.4% in the first quarter, from 10.5% in the fourth quarter, according to Moody’s Analytics’ commercial real estate division.
- The 90 basis-points increase marked the highest the firm has ever seen, surpassing the record 80 basis-point spike in the first quarter of 2009.
- “Malls are absolutely still on the ropes,” said Moody’s Victor Calanog.
Read the article: https://cnb.cx/3uStpyO