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Mall vacancies hit record high
Retail and office vacancies keep climbing as declining physical store traffic has led to store closures. Vacancies have hit a record at 11.4 percent, a 90-basis-point-jump from the previous quarter according to Moody's Analytics REIS. The news was reported by Retail Dive.
Regional and super-regional mall saw a .4 percent uptick year over year, and rents were down 1 percent, and effective rents were down 1.5 percent. These numbers are only expected to increase as tourism is still down and people are still working from home.
With states reopening and lockdown restrictions easing, mall...
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