Smaller retail real estate shops fare better

New York /
Dec.December 07, 2009 03:05 PM

Retail real estate could be on its way back, with recovery expected to begin in 2010, according to the latest data from Real Capital Analytics. Additionally, the overall shopping environment could be favoring smaller retail real estate firms, a trend that some industry experts predict may continue. While larger retail landlords, like U.S. shopping mall owner General Growth Properties, have suffered in the recession, smaller property owners are able to more quickly adjust to changing economic conditions, according to Adam Ginsburg, co-chairman of GDC Properties, a shopping center owner operating out of Hawthorne, N.Y. “Because of our size, decisions work themselves to the top of the company fairly quickly,” Ginsburg said. “We have a very flat organization and can pull the trigger faster than those that have to go through management layers such as investment committees.” September saw the first monthly gain in same store sales across the country — albeit a .1 percent gain — the first jump in more than a year. With shopping activity possibly stabilizing, the 2009 holiday season could be crucial for retail real estate, according to Retail Traffic magazine. Al Williams, principal with Excess Space Retail Services, a real estate lease restructuring firm, said that if the holiday shopping season doesn’t go smoothly, the U.S. could see between 6,000 and 8,000 store closings in the first two quarters of 2010. [Retail Traffic Mag] and


Related Articles

arrow_forward_ios
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
Virtual real estate speculators notch another record deal
Virtual real estate speculators notch another record deal
Virtual real estate speculators notch another record deal
5 East 59th Street (Google Maps, 5e59.com)
Singapore bank sues to foreclose on ex-Playboy Club building
Singapore bank sues to foreclose on ex-Playboy Club building
Developers are finding new lives for “zombie” malls
Developers are finding new lives for “zombie” malls
Developers are finding new lives for “zombie” malls
Vornado Realty Trust’s Steven Roth and Michael Franco (Getty, Vornado)
NYC retail has hit bottom: Roth
NYC retail has hit bottom: Roth
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
CRE held up through the pandemic far better than most expected (iStock)
How commercial real estate survived the pandemic
How commercial real estate survived the pandemic
SL Green CEO Marc Holliday and Ashkenazy Aqcuisition’s Ben Ashkenazy and the property (Google Maps, SL Green)
SL Green snaps up Ashkenazy’s 690 Madison through foreclosure
SL Green snaps up Ashkenazy’s 690 Madison through foreclosure
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...