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Surviving the Retail Shift
Retailers are closing thousands of stores at a breakneck pace —€ so far this year, more than 3,200 retail stores have closed their doors. Numerous big box anchor tenants have closed hundreds of underperforming stores across their portfolios, and long-time staples such as The Limited and Bebe have shuttered almost every one of their stores. While this is certainly not the end of brick and mortar retail, owners and managers of shopping centers faced with dark stores and mounting receivables are asking “now what?”
Unfortunately, there is no easy answer to this question, and commercial landlords are in for a bumpy ride. In the meantime, shopping center owners and managers need to regain control of their properties quickly and manage their open accounts receivable, all the while not exacerbating an already bad situation.
In this five-part series, we offer shopping center owners and managers some tools to help them navigate and hopefully survive this critical contraction in the retail industry. Part One is detailed herein.
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