Reis: Regional Mall Vacancy Rate declines slightly

[mEDITate-OR:
find yourselves..., out shopping...
almost alone.
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And, if you think the "strip" - is that not a funny name - malls are vacant were you are...
you should see where we are.
There a more than a dozen brand new strip malls within a few miles of me...
that have NEVER had any tenants.
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Bcuz of the time for development, strip and regional malls built out ahead of the subdivisions...
then the subdivisions stopped, they left empty lots...
but, the malls were already built - so, they left empty stores.
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The Good News is there are slightly fewer "empty offices"
The Bad News is that offices are moving upscale, downtown and to cheaper spaces
So, now we have not only empty brand new offices bldgs, but a lot of very old ones too.
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an average vacancy rate of 9.2% in the quarter

down from the 11-year high of 9.4% in the third quarter

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the vacancy rate for strip malls is just below the record set in 1990.

vacancy [for strip malls] remained at 11%

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Only 4.5 million square feet of shopping-center space opened in 2010

the lowest figure in 31 years

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Reis: Regional Mall Vacancy Rate declines slightly
http://www.calculatedriskblog.com/2012/01/reis-regional-mall-vacancy-rate.html
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