Is The Retail Collapse Over? Shopping Mall Owners Think So.
Bon-Ton, Toys R Us, Sears, Claire’s, Abercrombie & Fitch and Sam’s Club are just a few of the major retailers that have shut hundreds of locations altogether across the U.S. this year, leaving a glut of commercial real estate on the market. It’s allowed the few retailers that are still expanding as well as some “e-tailers” looking to plant some roots take advantage of the empty space and cheaper leases. The new tenants, filling some of the millions of square feet of retail space that went dark last year, have helped to ease concerns about an uncertain 2018 for shopping center owners. The real estate companies that have reported second-quarter earnings say the decline in occupancy rates that dragged on some results last year has at least stabilized. Simon Property Group, a real estate investment trust that owns some of the most profitable malls and premium outlets in America, went so far as to hike its full-year outlook. Read more at CNBC.
