American retail mall vacancies stand still in the first quarter

American retail mall vacancies stand still in the first quarter

American retail mall vacancies were intact, sticking to 9.9% during the first quarter of 2017, compared with the fourth quarter of the previous year, as new construction dipped to its lowest values in six years, as real estate research company Reis Inc revealed in its report.

Expectations for the retail real estate industry have dropped because of the rapid ascend in e-commerce as well as store closures. However the entire impact of the closures hasn’t been felt yet, as Denham stressed.

Construction activity went down by more than two-thirds during the quarter, with a paltry 796,000 square feet of fresh construction completed.

Asking rent soared 0.3%, while effective rent added 0.4%, as Reis told.

Net absorption, assessed in terms of available retail space sold in the market for a certain period, more than halved, hitting 1.25 million square feet.

Besides this, the national vacancy rate for neighborhood as well as community shopping centers stood still at 9.9%. 

 

Similar

Japan manufacturers' mood tacks on to 11-year maximum

In January, confidence among Japanese manufacturers rallied to an 11-year maximum, as the Reuters Tankan survey unveiled on Monday, showing corporate optimism powered by almost two years of uninterrupted economic expansion as well as a buoyant stock…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera