According to CoStar, rents declined for all five property segments the firm tracks from the second to third quarters. The greatest decline was at malls, where rents fell from $19.48 per square foot to $19.01 per square foot. Shopping centers experienced the smallest decline with rents decreasing from $14.90 per square foot to $14.85 per square foot. For the total retail market, rents fell from $17.25 per square foot to $17.14 per square foot. Rents have fallen for three straight quarters after reaching $17.51 per square foot in the fourth quarter of 2010.
Source: CoStar Property