There is no question that retail businesses have been suffering for the past two years as a result of a weak economy.
Economists predict only slight improvement in 2012. So what does that mean for our local malls and shopping centers?
Shopping Centers Today, a leading publication in the industry, reported in January that shopping center vacancies in the United States averaged 11 percent in the fourth quarter of 2011. That figure was up from 10.9 percent in the fourth quarter of 2010 and not far from the all-time high of 11.1 percent reached in the fourth quarter of 2007.