The retail sector's struggles intensified in the third quarter.
According to Moody's Analytics REIS, the sector's vacancy rate increased by 0.2% in the quarter to 10.4%, which was the highest mark since 2013. Average asking rents and average effective rents fell 0.1% and 0.4%, respectively.
Vacancies in malls hit their highest rate in 20 years, after rising 0.3% to 10.1% in Q3. The average mall asking rent declined 0.7% in the quarter and 0.6% over the year.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
