Retail center vacancies rise

Vacancies at U.S. neighborhood and community shopping centers rose in the second quarter to a 13-year high, while vacancies at larger regional malls were at their highest level since 2002, research firm Reis Inc. said.

The average vacancy rate at neighborhood and community malls rose to 8.2%, up from 7.3% a year earlier and the highest level since 1995, the New York-based real estate researcher said.

At regional and super- regional malls, vacancies increased to 6.3%, up from 5.6% a year earlier and the highest since the first quarter of 2002, Reis said.