Vacancies at shopping centers rose for the first time in a year in the second quarter as retail properties lagged the U.S. office and apartment rebound, according to a new report from Reis Inc.
Regional mall vacancies climbed to a record high, the New York-based firm said.
The vacancy rate at neighborhood and community shopping centers rose to 11% from 10.9%, where it had stood since the second quarter of last year, the New York research firm said in a report published late last week.
The rate for regional and “super” regional malls increased to 9.3%, the highest since Reis began collecting figures 11 years ago.
More than a dozen national retailers have declared bankruptcy since the recession in 2008 and 2009.
Apartment vacancies fell to 6% in the second quarter, the lowest since the end of 2007, from 7.8% a year earlier.
