The Real Deal Miami

Retailers argue for lower rent

January 07, 2009 04:43PM

Many stores nationwide are trying to negotiate lower rents with their landlords. Office Depot is closing 112 of its 1,275 stores, and is haggling with landlords to lower rent in the ones that remain. Women’s retailer Chico’s has hired a consultant to help it renegotiate, renew or end 340 of its leases coming due through 2011. And furniture store Pier 1 Imports is seeking to lower lease rates on the 200 leases it has coming up for renewal in the next year.