The U.S. Shopping Center MarketBeat provides an overview of quarterly shopping center activity, insight into current trends as well as market-level statistics on key leasing metrics.
Despite Challenges, Vacancy Holds Steady
At the end of the first quarter of 2016, U.S. shopping center vacancy stood at 7.9%. Though actual availability fell in Q1, the decline was not enough to impact the overall vacancy rate. Still, Q1 2016 was the 16th consecutive quarter in which overall shopping center vacancy either remained steady or declined. One year ago, this metric was 8.3%. This decline reflects total occupancy growth of just under 4.8 million square feet (MSF) of space, the smallest increase in occupancy in four years. However, the stable vacancy rate occurred at the close of a quarter that saw the highest level of store closures since 2010 as tracked by Cushman and Wakefield.
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