Thursday, March 23, 2017

Commentary: Shopping center owner ahead on the curve on Sears

Image result for sears replacement tenants Sears Holdings Corp.’s acknowledgement in a filing on Tuesday that the retailer had “serious doubt” about its future came as no big surprise to the retail industry, including Joseph Coradino, chairman and CEO of PREIT, a publicly traded real estate investment trust that owns and manages 23 million square feet of retail and lifestyle space. 
Coradino explains his firm’s strategy with regards to Sears in the commentary below.
"It has been no secret in our industry that this possibility would come. PREIT’s perspective has been to get ahead of the curve so we wouldn't find ourselves in a highly competitive environment with significant inventory available.. . . more

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