Loopnet News reported this week, "National Retail Vacancy Rates Drop." "The vacancy rate in shopping malls hit its lowest level in more than three years, falling to 5.3 percent in the fourth quarter from 5.5 percent in the previous one, according to a Reis Inc. survey. Rents in malls rose 0.8 percent to $37.89 per square foot per year in the fourth quarter from $37.60/sf in the third quarter, marking the third-consecutive quarter that rents rose or remained flat and vacancies declined. The strip-mall sector had vacancies down to 6.8 percent in the fourth quarter from 6.9 percent in the previous quarter. Rents were up 0.7 percent to $17.98/sf per year in the fourth quarter from $17.85/sf in the third quarter."
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