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The vacancy rate has risen despite the country’s strong economic growth
Retailers are anticipating a strong holiday season, boosted by a healthy economy and burgeoning consumer confidence, but an intensifying slump among shopping mall operators shows not all are benefiting from the recovery.
Mall vacancy rates rose to 9.1% in the third quarter, their highest level in seven years. Many of the older shopping centers that lack trendy retailers, lively restaurants, or other forms of popular entertainment continue to lose tenants, or even close down.