Based on our survey of 118 locations, Regional Malls (375,000 square feet (sf)+) registered a slight increase in vacancy to 6.1% from 5.3% at the end of 2022 – primarily a result of Nordstrom vacating 224k sf at the CF Pacific Centre. Overall vacancy in Community Malls (110,000 sf – 375,000 sf) increased only slightly from 1.7% to 2.3% during this same time period.
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