Find in the news:
BY COUNTRY

Retailers began closing down rental debts



The war with landlords is still going on, but many retailers are already ready to pay rent.
Store interior UnSplash

More and more retailers are returning to their usual mode of operation: starting to pay rent. However, negotiations, sometimes very hot, between tenants and landlords continue.

According to a study by the US National Retail Federation and investment bank PJ Solomon, only about a third of retailers paid at least 75% of their rents in June. By July, the number of borrowers had nearly doubled to 65 percent.

The survey also showed that 73 percent of retailers who missed payments plan to pay at least half of the rents due since the start of the nationwide closing in March. More than half of respondents said they received discounts or concessions from their landlords. In this case, the most common compromise was to defer payments until the end of 2020 or even 2021.

Real estate experts say that retailers are increasingly seeking to pay rent as a percentage of sales. However, lessors resisted this type of settlement, as this approach would make it difficult for them to predict future revenue streams.

Often it comes to litigation. During the pandemic, one of the most high-profile lawsuits was Bal Harbour Shops' lawsuit against the Saks Fifth Avenue chain of department stores, which claimed that the retailer had not paid more than $1.8 million in rent. In response, the chain filed a countersuit accusing the landlord of defamation and contract violations. Subsequently, there were other, less high-profile cases. And we can assume that the number of such lawsuits will only increase over time.

Many analysts assume that there will be a decline in rent levels everywhere soon, as it has become too high for many companies to justify its payment. With the rapid growth of online sales and many people's unwillingness to visit public places in the market, global changes may begin.

More about shopping malls in the USA



YESTERDAY, USA:
Global superstar Rihanna unveiled her latest venture, Fenty Hair.
DAY BEFORE YESTERDAY:
The next European implementation will take place in Hamburg.
Jun 11, 2024, Mexico:
Luxury fashion house Balenciaga made its debut on Friday in Cancún.
Jun 10, 2024, USA:
The Bape Store Chicago is also releasing its signature Camo capsule.
Jun 7, 2024, USA:
The sale is expected to be finalized in the second half of 2024.
Jun 6, 2024, Italy:
Romantic and rustic, the store features a classic Italian-inspired exterior, adorned with crimson colors.
Friend
and Follow
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Ontario Mills GLA:1 473 000 SF
ADDRESS: 1 Mills Cir, Ontario, CA 91764-5207
USA . Ontario
Ontario Mills
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us