The Real Deal Miami

General Growth lowering rents

February 06, 2009 03:25PM

General Growth Properties and other mall owners nationwide are being forced to lower rents for their tenants as many of the malls’ anchor tenants close and the remaining merchants become contractually entitled to lower rents. Linens ‘n Things, Circuit City and Steve and Barry’s are among the major tenants filing for bankruptcy and closing stores. General Growth Properties owns a number of malls in South Florida, including Bayside Marketplace in Miami.