The drumbeat of store closures continues, with well over 1,000 already on the books this year. No doubt, these shutdowns will harm landlords, including retail REITs.
But although it wouldn’t make up for the loss of hundreds of larger stores, Macy Inc.’s new smaller-store concept stands to benefit retail REITs and other landlords that own robust portfolios of lifestyle centers—centers that one retail expert says “are picking up where traditional malls left off.”. . . more