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JLL found that mall rents in Q2 dropped 4.6 percent from the first quarter and 7.1 percent from one year prior. But, in terms of bringing in tenants, some malls fared better than others, Chain Store Age reported.
“[Malls] with strong locations were able to nab high-productivity tenants like Whole Foods, Wegmans and Nordstrom,” according to JLL’s Q2 Retail Outlook report. “Those in fairly good locations were leased by tenants like Dick’s, Belk and At Home. Those with only an average location had a harder time finding a replacement tenant, and when they did, it was usually a lower-performing, non-retail tenant.”
In terms of tenants leaving malls, move-outs reached 7.8 million square feet in the second
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