Media
Marcus & Millichap: Multifamily units in malls will likely increase
May 19, 2023
Refilling empty mall and shopping center anchor spaces with apartments has become a common practice among developers, and one that is likely to increase.
The United States apartment vacancy rate hit an all-time low of 2.5% in early 2022, and while it has cranked up to 5% in this year’s first quarter, demand continues to surge as high interest rates stall purchases of single-family homes.
Rental demand remains incredibly high. America is short some three million apartments, according to Marcus & Millichap senior VP John Chang, director of the expansive brokerage’s research and advisory services department.
Read the Full Article
The United States apartment vacancy rate hit an all-time low of 2.5% in early 2022, and while it has cranked up to 5% in this year’s first quarter, demand continues to surge as high interest rates stall purchases of single-family homes.
Rental demand remains incredibly high. America is short some three million apartments, according to Marcus & Millichap senior VP John Chang, director of the expansive brokerage’s research and advisory services department.
