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U.S. Shopping Center Business Strong

There’s a lot of anxiety over the economy, but shopping centers are reporting strong business.

The International Council of Shopping Centers and the National Council of Real Estate Investment Fiduciaries reported an increase in net operating income per square foot for U.S. shopping centers. The news, released on Oct. 31, said net operating income per square foot at U.S. shopping centers increased 7.4 percent during the third quarter of 2013 over the previous year. The performance was the same as the second quarter of 2013.

“The shopping-center industry’s third-quarter performance was another strong showing by the retail sector,” said Jeffrey R. Havsy, director of research for the NCREIF.

The NCREIF also broke down shopping-center performance by region. The U.S. shopping-center industry was the strongest in the West, where net operating income increased by 9.4 percent. In the East, there was an 8.1 percent gain. The South advanced by 6.0 percent. The Midwest posted a solid 3.2 percent gain.