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.

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