Quarantine orders, as well as a reticent consumer sentiment that took hold of the country earlier this year due to the Coronavirus, dovetailed to wreak havoc on the retail sector.
Mall vacancies have soared to their highest level in 20 years during the third quarter, increasing by 0.3% to 10.1%, according to Moody's Analytics REIS.
In another sign of the sector's struggles: two major retail REITs CBL & Associates Properties and PREIT, have filed for bankruptcy.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
