CHICAGO—The median income for open shopping centers across the US got quite a boost in 2013, according to a new retail study by the Institute of Real Estate Management. Based on average actual occupancy, the median income increased to $17.18-per-square-foot from $16.18 in 2012. At the same time, operating costs for the centers decreased, to $5.07-per-square-foot from $5.20 in 2012.

The Chicago-based IREM just published these stats in its 2014 edition of the Income/Expense Analysis®: Shopping Centers. Researchers from the institute have been conducting the annual study since 1991. They analyze the previous year’s operating data for 361 open shopping centers throughout the US.

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