In a seemingly interminable procession, one venerable retail chain after another shuts down stores, restructures under bankruptcy protection or closes shop entirely. (In some cases, it’s been all of the above.) Retail real estate owners and managers have struggled to cope. They scramble to restructure leases or find replacement tenants. The most creative have changed up tenant mixes, bringing in more entertainment or service-oriented tenants so their income streams are less reliant on the vagaries plaguing the retail sector.
The question looking ahead is whether more of the same is in store for the sector as more sales activity shifts online or if this painful stretch is nearing its end.. . . more