The pandemic is hitting multi-tenant retail properties incredibly hard.

In the third quarter, vacancy at multi-tenant properties increased 40 basis points to 6.4%, according to a Marcus & Millichap special report.

Not surprisingly, malls and neighborhood centers pulled down the performance of multi-tenant properties—both experienced increases of more than 100 basis points since the beginning of the year. Neighborhood centers with grocery anchors performed better than those without one. Still, some smaller retailers in those centers have been forced to close during the pandemic.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.