With consumer spending down, retail brokers say they’ve seen an
increasing number of stores asking for reductions and deferments on
their rents. Brokers say the requests for rent breaks are creating a
serious problem for landlords because it’s difficult to figure out
which retailers really need a break and which ones are simply taking
advantage of the new dynamics in the market. On this week’s Webcast, The Real Deal’s
Jill Gardiner talks to two retail specialists, Lon Rubackin of GFI
Retail Group, and Henry Goldfarb of Grubb & Ellis, about what
they’re seeing in terms of rental reductions and what role they’re
playing in negotiations. Rubackin put it this way: “The landlord’s in a
pickle in a box.” To watch this week’s Webcast, click the image below.
