Learn who we are and how we serve our community
Meet our leaders, trustees and team
Developing the next generation of talent
Covering the latest news and trends in the marketplaces industry
Check out wide-ranging resources that educate and inspire
Learn about the governmental initiatives we support
Connect with other professionals at a local, regional or national event
Find webinars from industry experts on the latest topics and trends
Grow your skills online, in a class or at an event with expert guidance
Access our Member Directory and connect with colleagues
Get recommended matches for new business partners
Find tools to support your education and professional development
Learn about how to join ICSC and the benefits of membership
Stay connected with ICSC and continue to receive membership benefits
Vacancy rates at U.S. neighborhood and community shopping centers fell to 10.1 percent in the second quarter, marking the first time such vacancies have declined since the second quarter of 2016, according to research firm Reis.
Meanwhile, asking and effective asking rents in these sectors rose by 0.4 percent in the quarter, according to the Reis report.
Regional mall vacancy remained steady at 9.3 percent, having risen in previous quarters on store closures from Charlotte Russe, Gymboree, JCPenney, Payless and Sears.
Grocery stores have been a leading new occupant of vacated spaces over the past year or so
“The stability of the trends this quarter shows how the retail sector has been able to withstand structural changes in the industry, to some extent,” the report reads. “As big-name anchor stores clear out, a number of stores continue to open. Grocery stores have been a leading new occupant of those vacant spaces over the past year or so, as have home/houseware stores, gyms/fitness, discount variety stores, discount clothing stores, and even trampoline parks.”
Net absorption has outpaced new construction of neighborhood and community shopping centers, amounting to about 2.4 million square feet in the second quarter, nearly double that of the first quarter’s roughly 1.3 million square feet, according to Reis.
By Edmund Mander
Director, Editor-In-Chief/SCT
Members get exclusive access to this magazine with news and trends for the rapidly evolving marketplaces industry.
Sign up now