David Simon Talks Holiday Shopping and GGP
Tags: Black Friday, General Growth Properties, Simon Property Group Posted in
New Retail Tenants: Still Hard to Come By
If this article is any indication, new retail tenants are still very hard to come by for shopping center and mall owners. While the re-leasing market continues at a reasonably healthy clip for quality shopping centers (in particular, quality regional malls), there are few new retail deals being done beyond a handful of active restaurant chains, some auto stores and dollar stores. Of the nine tenants mentioned in the article, five are food tenants and the others consist of a used book store, a Halloween shop, a refurbished computer store and a children’s hair cuttery. Hardly the stuff that erases retail gloom and doom or revitalizes a entire portfolio. That said, creative leasing with “mom and pop” operations, non-traditional tenants and the like are where the market is right now, and for the foreseeable future. Simon is to be commended for pulling off any new deals in the current environment but this clearly illustrates the lack of new or exciting retail concepts as well as the difficulty of increasing occupancy in an overbuilt retail market struggling against the excesses of an entire decade.
Tags: Leasing Environment, New Retail Tenants, Simon Property Group Posted in
