NEW YORK CITY-US shopping centers and malls are recovering on a slower pace. The retail market continued their slow growth, and lease rates and vacancies were held steady in Q4 2010.
According to Reis, vacancy rates at malls declined to 8.7% for the second successive quarter; however, lease rates at malls increased to $38.79 per square foot per year. Vacancy rates at shopping centers continued to be steady at 10.9% in Q4, and lease rates declined to $16.56 per square foot per year. For the full story, go to Wall Street Journal.
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