Jan. 7 (Bloomberg) -- Vacancies at U.S. malls and shopping centers approached 10-year highs in the fourth quarter, and are set to rise further as declining retail sales put more stores out of business, research firm Reis Inc. said.

A developer is interested in building a shopping center on the 84 Lumber site south of Mount Airy.

Someone tagged the east wall of the Hamrick’s store in the WestGate Crossing shopping center with graffiti.

MOUNT AIRY — Commercial developers and town officials are discussing the possibility of annexing the 84 Lumber site south of town and redeveloping it as a shopping center

Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. , today officially announced that cinema multiplex leader Megabox, has signed as the cinema operator and third anchor tenant in Songdo Shopping Center situated in the heart of the master-planned Songdo International Business District , Incheon, Korea.

When local businesses close their doors, consumers are left with fewer choices of where to take their money. Reports say consumers are being more careful with their money, either shopping for the best deals or not shopping at all.