High vacancies have forced owners to court temporary tenants with cheaper rents, flexible terms
Retailers aren’t the only ones working their way back from the ravages of the pandemic. Mall landlords have been decimated, and many are now courting temporary tenants, pushing the pop-up stores to boost revenue and fill space.
Mall operators on Long Island and across the nation are trying to entice retailers with cheaper rents — sometimes a few months free — and flexible lease terms, according to Newsday....
...moreMall operators on Long Island and across the nation are trying to entice retailers with cheaper rents — sometimes a few months free — and flexible lease terms, according to Newsday....
RSK: This is a great way to boost revenue but please do not compete with the retailers who stuck it out with a permanent store and a 5-year lease.
Ken Notes: We revitalized downtown Neenah in the 90`s with progressive leases. It let businesses try a concept and if it worked that progressed into market rate leases. Some worked well others did not but that made an improved space for the next tenant.
Share this article on you social outlets
Our Sponsors
- - Volume: 9 - WEEK: 27 Date: 6/29/2021 11:07:55 AM -