Shopping center landlords are feeling the pressure as retailers are increasingly pulling back on leasing.
The first quarter of the year marked the weakest three-month period for shopping center leasing since 2020 when the pandemic put stores on lockdown, The Wall Street Journal reported, citing Cushman & Wakefield data.
Overall, tenants vacated nearly 6M SF more than they occupied in the quarter, according to Cushman & Wakefield. Last year, retailers closed roughly 1,300 more stores than they opened, according to Coresight Research.
The slowdown comes as a tsunami of bankruptcies have hit, forcing stores to consolidate their portfolios in a matter of months. A Bisnow analysis previously found that at least $8.7B of CMBS loans are backed by properties where bankrupt retailers have decided to terminate their leases over the past year...
Overall, tenants vacated nearly 6M SF more than they occupied in the quarter, according to Cushman & Wakefield. Last year, retailers closed roughly 1,300 more stores than they opened, according to Coresight Research.
The slowdown comes as a tsunami of bankruptcies have hit, forcing stores to consolidate their portfolios in a matter of months. A Bisnow analysis previously found that at least $8.7B of CMBS loans are backed by properties where bankrupt retailers have decided to terminate their leases over the past year...
...more
RSK: Shoppers are expecting more of an experience than just buying goods. Why services and hospitality are the answer to filling up the spaces.
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- - Volume: 25 - WEEK: 21 Date: 5/20/2025 11:51:21 AM -