NEW YORK CITY-Retail vacancies nationwide slipped to 10.5% at the end of the second quarter, down a tenth of a percentage point from the first quarter of this year, according to a REIS Inc. report.
The New York City-based research firm was to release its report on US retail vacancies today, according to the Wall Street Journal. REIS reports that average asking rents for US retail properties rose to $19.19 per square foot at the end of the second quarter from $19.13 per square-foot three months earlier.
The average vacancy rate for malls in the US averaged 8.3% at the end of the second quarter, the lowest rate in more than four years, the reports states. The vacancy rate for strip shopping centers fell as well in the second quarter to 10.5%, as compared to 10.8% in the second quarter of 2012. See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
