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Retail Rents Have 'A Long Way to Go'

NEW YORK CITY—However, the general trend for vacancies at both neighborhood centers and regional malls has been downward, says Reis Inc.'s Ryan Severino.

By Paul Bubny | Updated on July 07, 2015

NEW YORK CITY—Asking and effective rents at neighborhood and community centers ticked up modestly during the second quarter, posting quarterly gains of 0.5% and 0.6%, respectively, Reis Inc. said Tuesday. The gain for regional malls was comparable, with asking rents up 0.6% during Q2.

“This is more or less in line with last quarter,” says Ryan Severino, senior economist and director of research at Reis, based in New York City. “While rents continue to claw their way back from the depths of the recession, they still have a long way to go.”

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