Tough Times For Retailers – And Shopping Center Owners
It looks like that there will be a great deal of downward pressure on retail landlords in the coming year. Combining a downturn in retail sales that is expected to see 73,000 stores closing in the first half of 2009 and the amount of shopping center inventory coming online rents are expected to be driven down in the coming months.
Like their residential brethren, the commercial landlords will need to be tightening their belts in the coming months.
Retailers may close 73,000 stores in the first half of 2009, according to the International Council of Shopping Centers. Talbots Inc. and Sears Holdings Corp. are among chains shuttering underperforming locations.
More than a dozen retailers, including Circuit City Stores Inc., Linens ‘n Things Inc., Sharper Image Corp. and Steve & Barry’s LLC, have sought bankruptcy protection this year as the credit squeeze and recession drained sales. Investors will start seeing a wide variety of chains seeking bankruptcy protection in February when they file financial reports, said Burt Flickinger. via Bloomberg.com
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What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
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In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by Realty.com on 31 December 2008:
This is definitely no surprise but I certainly look forward to the day we see some positive news about retail, real estate and the entire economy as a whole.