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South Florida

U.S. retail vacancy climbs

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Vacancy rates at malls in the U.S. are at their highest rate since
2001, while shopping centers are at their highest vacancy rate since
1994, according to third-quarter data from research firm Reis Inc.
Malls in the top 76 markets in the country had a vacancy rate of 6.6
percent, up from 6.3 percent in the second quarter, while strip centers
and other open-air shopping venues had a vacancy rate of 8.4 percent,
up from 8.1 percent. The combined vacancy was up 20 basis points to 8
percent over that time.