U.S. shopping mall vacancies reach 8-year high

Oct. 04, 2019 3:25 AM ETSimon Property Group, Inc. (SPG), PRET, MAC, XLP, XLY, VDC, XRT, VCR, IBUYXLP, XLY, VCR, IBUY, VDC, SPG, XRT, SKT, PRET, MACBy: Liz Kiesche, SA News Editor82 Comments
  • Vacancies in U.S. shopping malls hit an eight-year high, though some regions are faring better with retail upheaval than others, according to data from Reis, part of Moody's Analytics.
  • The data, which tracks 77 metro areas, show 9.4% of units were unoccupied in Q3, equaling a post-financial crisis high reached in 2011.
  • Some 17 cities, though, had a vacancy rate under 7%, as San Francisco led with a 4.1% rate. On the other hand, 24 cities had vacancy rates above 12%, including Memphis, Buffalo, and Albuquerque.
  • Rates improved over the past year for 43 cities, including Chicago, Seattle, and Las Vegas.
  • But rates worsened in several areas that already had a higher-than-average proportion of empty stores. Retail vacancies rose 2.4 percentage points in Syracuse, NY, over the past year to 14%.
  • Previously: Forever 21 joins the mall graveyard (Sept. 30)
  • Mall REITs: SPG, SKT, PEI, MAC

Recommended For You

Comments (82)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.