Vacancy Rate at U.S. Malls Hits Record 9.4%

The average third-quarter vacancy rate at U.S. malls hit a record of 9.4%, according to Reis Inc., a real-estate research company.  It was the highest on record since Reis began tracking the data in 2000.  Green Street Advisors predicts that about 10% of the roughly 1,100 malls in the U.S. will either be dead within the next 10 years or find new uses as offices or classrooms if vacancies and retail sales don’t improve.

Wall Street Journal   December 14, 2011