Malls · Shopping Center · Uncategorized

Dealing with new realities in “retail” rents

Back in 1996, I was serving as an expert witness in a mediation related to HVAC billing methodologies in regional malls. The tenant brought in their own expert witness to address water rates. Over the course of two days, the two of us had plenty of time to talk. At that time, in most municipalities,… Continue reading Dealing with new realities in “retail” rents

Retail leases · Shopping Center · Uncategorized

Experiential retail as a consumer

We are always considering retail from the landlord perspective, and there is so much to consider as retailers and landlords emphasize the experience. But, over the past two weeks, I have been on the other side of the equation – feeling the impact of showrooming and experiential retail as a consumer. Two weeks ago, I… Continue reading Experiential retail as a consumer

Malls · Shopping Center · Uncategorized

When physical retail is special

Last week, my family and I had the good fortune to visit Paris. There may have been some shopping involved. Actually, quite a bit. One day, I even set my wife and daughter up with a guide (Farhi at to go to the off-the-beaten track boutiques.  We talk about “experiential” retail here in the… Continue reading When physical retail is special

Malls · Retail leases · Shopping Center · Uncategorized

Distorted sales and sales audits

Over the past 2 months, there have been a number of stories about tenants “distorting” sales including this one in Shopping Centers Today – It is almost presented as a “breaking news” type item, but this issue, including internet returns and its technological predecessor, catalog returns, has been an issue as long as tenants… Continue reading Distorted sales and sales audits

Malls · Retail leases · Shopping Center

Consider the facts behind the stories

As a company, we spend our time making sense of the cash flows presented by sellers. Find where the seller may have overstated the cash flow. Find where they had missed opportunities. Basically, sort out the facts. There were a couple of articles this week that made their way around Twitter an LinkedIn because they… Continue reading Consider the facts behind the stories

Malls · Office Properties · Retail leases · Uncategorized

A couple of percentage rent/gross sales issues this week

This week, we were working on an acquisition of a property in the southeast. One tenant occupied the majority of the property, with a handful of other tenants accounting for about 10% of the leasable area, but about 20% of the income. There was a restaurant tenant that had a unique name that I had… Continue reading A couple of percentage rent/gross sales issues this week