As Retail Outlook Dims, Mall Tenants Push for Shorter Leases
- Chains facing off with landlords in ‘game of chicken’
- Bankruptcies in industry seen accelerating into next year
WPG CEO Sees Strength in U.S. Retail Real Estate
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As if malls didn’t have enough problems, count one more: retailers looking to slash the duration of their leases.
After more than a dozen bankruptcies this year contributed to thousands of store closures, visibility for the industry is so poor that retailers are pushing for lease renewals as short as a year or two -- down from five to 10 years.