Reis Q4 2010 Shopping Center Trends

• Shopping centers posted net absorption of 92,000 square feet
• The vacancy rate was at 10.9 percent—flat for both the third and fourth quarters.
• Asking rents fell by 0.1 percent in the quarter to $19.05 per square foot. For the year as a whole, asking rents declined by 0.7 percent
• Effective rents declined 0.1 percent to $16.56 per square foot. For the year as a whole, effective rents declined 1.5 percent
• The vacancy rate for neighborhood and community centers remained flat or declined in 45 of the primary 80 metropolitan areas Reis monitors and effective rents remained flat or increased in 35 out of 80 markets.

Source: Reis Inc.