Rents on the Rise

Good News: Vacancy rates at malls averaged 9.4% in Q4 ’11 down from an 11 year high of 9.6% in Q3 ’11 but way up from the all-time low of 5.5% in ’07. Meanwhile vacancy rates at strip malls held steady at 11%. As for pricing, mall rents rose to almost $39/ sq. ft. up slightly from Q3 ’11 and up for the second straight quarter while rents rose 20 cents to $19/ sq. ft. in strip malls, the first (albeit tiny) rise in over 3 years.