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Document écrit en Langue Vivante Étrangère



For the first time in four years, vacancy rates of stores in malls and shopping centers have de- creased. According to REIS, a commercial property research firm, vacancy rates at the top 80 U.S. malls have declined to 8.8% in the third quarter. Landlords warn that the recovery is slight and a stronger rebound depends on more consumer confidence and jobs. Even so, retail specialists find the statistics encouraging.

Lease rates for malls have remained steady at $38.72 in the third quarter. Smaller shopping centers built around a supermarket and a row of shops in front of a parking lot reflect the same trend. Vacancies were steady at 10.9% in the third quarter and lease rates declined by one tenth of a percentage point to $16.58, the smallest decline since 2008.

This slight improvement in retail property can be explained by a regain of consumer confidence and sales. Retail Metrics Inc. that keeps track of retail sales reported that the top 30 retail chains made an average gain of 2.3 % in September for the second month in a row. The National Retail Federation trade group is also optimistic about holiday sales and predicts a 2.3% gain over last year. Toys “R” Us and other retailers plan to take advantage of the

rebound and open “pop up “stores to attract holi- day shoppers. Jonathan Gould, principal of Stone- mar Properties, that owns five shopping centers, says he has signed or renewed leases for a number of well-known brands. Gould believes that while the “pop ups” will benefit landlords only in the short term, there is a definite renewal of leases for vacancies that were created by bankruptcy during the recession.

Nevertheless, retailers are still wary to open stores until the economy is stronger. More commercial vacancies are foreseen: Blockbuster, the video rental chain, seeking bankruptcy protection will soon be obliged to close hundreds of outlets. The key to stronger recovery of retail sales and property indus- tries remains job growth and consumer confidence throughout the country.

For the moment, the biggest gains in retail occupancy are in New York, Northern New Jersey and in Austin and Houston, Texas. On the other hand, areas hard hit by the housing bust such as Phoenix, Seattle and parts of California continued to lose occupancy in the third quarter.

Malls Begin Slow Recovery

2 96AM DV WB 01 2

Devoir 1

Exercices d’aide à la compréhension

Exercice 1

Exercice de vocabulaire : reliez le mot en anglais à son équivalent en français.

1 mall a taux

2 vacancy b tendance

3 rate c méfiant

4 recovery d propriétaire

5 landlord e vendeur / détaillant

6

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