Retail Occupancies, Rents Rise in Quarter
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From Bloomberg News
U.S. shopping center occupancies and rents rose in the first quarter, according to a report by real estate research firm Reis Inc.
Neighborhood and community shopping centers were 93.2% occupied at the end of March, up from 92.9% a year earlier, in the 48 largest markets. Regional malls were 94.5% full, up from 93.7%.
Average asking rents for neighborhood and community centers rose 0.5% to $16.79 a square foot, while mall rents rose 0.8% to $37.15.
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