Monday, May 14, 2018

How a Startup is Helping Retail Landlords, Tenants Arrange Short-Term Leases

NREI
Men’s sportswear retailer Rhone recently participated in a growing retail trend. It booked a one-year, 368-sq.-ft. space in Brookfield Place, the retail concourse in New York City (still locally referred to as the World Financial Center), after renting space in three other shopping centers for even shorter terms.

In previous eras of retail leasing, a young company in a competitive segment such as apparel might not have hoped to attain such a deal. Yet these are extraordinary times in retailing. Bankruptcies and store closures are on the rise for anchors and specialty tenants, including the apparel sector, putting pressure on retail landlords to keep their common areas bustling with shoppers. . . . more