Mall Vacancy Rate Hits 8-Year High Amid Record Number Of Store Closures

As RetailDive writes, landlords across the US are rushing to fill vacant retail space and will have to scramble all the more as Forever 21 this week said it would add 178 stores to a closure count that has already surpassed last year’s grim total. And while the retail vacancy rate in the third quarter declined to 10.1%, from the 10.2% of both last quarter and the third quarter last year, the average mall vacancy rate has reached an eight-year high, inching up 0.1% from last quarter to 9.4%, according to real estate research firm Reis.