Increase in mall rental rates



Malls and strip shopping centers have seen an increase in rental rates during the third quarter, however vacancy rates were unaffected as the recovery in retail real estate struggles along.
The asking rentals at regional malls increased by 0.5% during the quarter, to reach $40.51 per square foot.  This figure increased by 1.8%, compared to the previous year.  The vacancy rate at malls remained at 7.9% for the fourth consecutive quarter.

At strip center, rentals increased 0.4% during the three-month period, to reach $17.06 per square foot.  This is an increase of 1.8%, compared to the previous year.  The vacancy rates remained the same as the previous quarter at 10.3%.  This is a slight improvement from the average rate of 10.74% over the past five-year period.

These figures indicate the struggle being experienced in the retail real estate market.  Prices appear to have risen rapidly for high-quality assets, however they remain slow for the more traditional properties located in less than attractive areas.
The vacancy rates increased rapidly in Chicago at 1.4%, Wichita at 1.2% and in Tacoma, Wash. at 1.2%.  They declined the fastest in Palm Beach, Fla. at -1.7%, San Jose at -1.2% and Sacramento at -1.1%.

Construction of new centers has also reached a new low.  Around 3.99m square feet of new space has been added this year, with 1.3m during the third quarter.  The lowest rate previously occurred during 2010, when 4.5m square feet was added during the entire year.

More about shopping malls in the USA



YESTERDAY, USA:
Families will be able to participate in a 10-minute interactive video tour of Cane Institute at the North Pole for only $20.
YESTERDAY, USA:
Retail Ecommerce Ventures (REV), which owns Pier 1, Dressbarn, and Modell's Sporting Goods, will buy the bankrupt Stein Mart chain of department stores.
YESTERDAY, United Kingdom:
Iceland supermarket chain is ready to support distribution by its logistics chain for frozen food.
YESTERDAY, United Kingdom:
Debenhams, Primark, and Marks&Spencer were able to receive a record number of customers.
DAY BEFORE YESTERDAY, United Kingdom:
The retailer decided the day after the bankruptcy of the primary tenant - the owner of Topshop brand.
DAY BEFORE YESTERDAY, USA:
Sephora stores will open in department stores of about 115 square meters.
Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us