Tuesday, October 22

Mall Madness: Store Vacancies at 8 Year High

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Long Island is among the worst hit areas as vacancies in malls hit an 8-year high.

It comes as a wave of retail bankruptcies leave shops with empty shelves and papered-over windows.

The bleeding at malls continuing  with Forever 21 releasing a list of the nearly 180 locations it could potentially close as part of its bankruptcy proceedings.   Meantime, Bed Bath & Beyond will shut 60 stores by the end of fiscal 2019.

The rate of unoccupied storefronts surged to 9.4% during the last 3 months of summer, according to just released data from Reis, a unit of Moody’s Analytics.

That figure matched the post-financial crisis high in 2011.  Metro areas with the emptiest malls in addition to Long Island include: Tucson, Charleston, Baltimore and Syracuse.


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