By  on July 14, 2008

The national retail vacancy rate at neighborhood and community shopping centers is the worst it's been in more than a decade, and regional malls are at their lowest point in more than five years, according to a recently released study by real estate analysis firm Reis Inc.

The study reported that the vacancy rate rose 50 basis points to 8.2 percent at neighborhood and community shopping centers in the second quarter. The jump makes for the highest vacancy rate in the category since 1995. During the second quarter the vacancy rate for regional malls was up 40 basis points to 6.3 percent, the highest it has been in more than five years. The firm monitors about two billion square feet of retail space nationally.

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