The US outdoor shopping center market recorded its largest return of space since 2009 during the second quarter of 2020, with 12.2 million square feet reabsorbed so far this year according to a new report from Cushman & Wakefield.

The report said despite the -7.7 million square feet absorption during Q2, “the impact on vacancy and rents has thus far been moderate.” It noted that overall vacancy rates went up by 20 basis points over the last quarter to hit 6.8 percent, and the overall asking rent for all space classes is at $17.58 per square foot, holding steady from the previous quarter.

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Jacqueline Thomsen

Jacqueline Thomsen, based in Washington, is a reporter covering D.C. federal courts and the legal side of politics. Contact her at [email protected] and follow her on Twitter @jacq_thomsen.

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