Retail absorption in the third quarter reached 608,932 sf, according to the local market watcher. Over the past four quarters, the market absorbed a healthy 2.3 million sf. Retail product of all type is posting to the positive, with neighborhood centers alone absorbing in excess of one million sf.

The latest occupancy reading is 85.3% versus about 85.6% at the end of the second quarter. Richard Zigler, O'Connor's research director, tells GlobeSt.com that the slight setback is primarily due to the closing of the 180,000-sf Dillard's at Town & Country Mall and two pre-planned Kmart shutdowns.

Though it hasn't hit the market yet, Zigler says retailer Lord & Taylor announced the closings of three stores in the metro area. The 394,000 sf are located in the Willowbrook, Memorial City and Galleria malls. Zigler says Lord & Taylor first plans to try to find one buyer for the trio, before allowing them to be cherry-picked. The retailer's plan, he says, is to wait until the locations are sold or committed before they are closed. "They don't want to let them go dark," he adds.