image credit: Pxhere

Mall vacancies jump at fastest pace on record, hitting new high, as retailers cull store counts

April 7, 2021


If you noticed more darkened windows and empty stores at the mall recently, you’re not alone.

The vacancy rate for regional malls in the United States hit a record 11.4% in the first quarter of 2021 from 10.5% in the fourth quarter of 2020, according to Moody’s Analytics’ commercial real estate division.

The 90 basis-points increase marked the highest the firm has ever seen, surpassing the record 80 basis-point spike in the first quarter of 2009, in the thick of the Great Recession.

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