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Retail Vacancies Continue to Rise (Wednesday's News & Notes)

Retail landlords tell us things are getting better where leasing is concerned, with rent concession requests drying up and more tenants approaching the subject of expansion. But new numbers from Reis Inc., a New York-based research firm, show it's still tough out there for a shopping center owner. In the second quarter of 2010, the national vacancy rate for shopping centers climbed once again, to 10.9 percent. That's because while some chains have been thinking about taking advantage of lower rents to open new stores, others have been giving back their existing spaces. The amount of shopping center space tenants gave back in the second quarter came to a whopping 1.85 million square feet, Reis reports.

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