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Sunday
Oct232011

Report: Mall Vacancies Hit 11-Year High 

Sean Gallup/Getty Images(NEW YORK) -- Tight budgets may not be the only problem shoppers encounter this holiday season when they hit the malls for their annual shopping spree.

Many shoppers may be surprised to find their favorite stores empty as data from the commercial real estate research firm Reis reports that mall vacancies have hit an 11-year high.

The report found that regional and super mall vacancies were up 9.4 percent in the three months ending Sept. 30—up from 8.8 percent during the same period in 2010.

Reis compiled the data by surveying more than 600 million square feet of stores nationwide—40 percent of the country’s malls—as well as shopping mall property managers across the country.

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