Following a first quarter of 2011 that saw mall vacancies rise to 9.1 percent, the second quarter was no kinder, with the vacancy rate inching up to 9.3 percent. Strip malls are having an even tougher time keeping tenants, with 11 percent of storefronts sitting empty.
Reuters relays the bleak numbers — the highest since 1990 — from Reis, a real estate research firm. Says a Reis senior economist:
Even though we've been out of a recession for two years, there aren't a lot of jobs out there, and people are still risk adverse. That's depressing demand for both retail goods and retail space.
What stores have disappeared from your malls?
4 comments:
Who has money and if they did why go to the mall and get robbed by black gangs.
Even for businesses. The rent for the mall is EXPENSIVE!
What mall did this picture come from? It's not the Salisbury mall. Was there too many people in the Salisbury mall for you get a picture to go with this post. Come on Joe you take pictures everywhere you go. Guessing you don't shop at the Salisbury mall. Just wondering.meton
Anon 1956 -
Obviously this isn't from the Centre at Salisbury. Notice the escalator? I honestly don't know what mall it's from. I simply searched for photos of empty malls. Works with the article; which you will also note is about a national trend, not our own mall.
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