The good vibes, as well as the negative rumblings, that percolate through big events are an annual check on the pulse of an industry. In the case of retail real estate, I am happy to report that the positives seemed to outweigh the negatives at ICSC’s Deal Making show in New York last week. Let’s […]
Blog
PREIT pitching new tenants for targeted Macy’s spaces
Suzette Parmley/The Philadelphia Inquirer – NEW YORK – As he paced back and forth in the PREIT booth at the Jacob K. Javits Convention Center, Joe Coradino had a mission: to sell Macy’s spaces in malls that his company owns and that are on the brink of closing – and soon. Among those targeted in the […]
How Macy’s and Sear’s may invite other retailers to take their spaces
Suzette Parmley/The Philadelphia Inquirer – Empty nesters often downsize into space better suited to their new needs. So do failing department stores that sit empty due to new competition and the rise of digital shopping. Last month, Macy’s Inc. announced it was forming a strategic alliance with Brookfield Asset Management to increase the value of its […]
Is Black Friday falling behind Stormy Monday?
Suzette Parmley/The Philadelphia Inquirer – As Gail Kerick began her holiday shopping in earnest last week, she was steadfast in her intent not to shop at all on Thanksgiving Day. “Absolutely not,” said Kerick, 64, a retiree from Morrisville, as she combed the women’s sweater racks at a local Kohl’s. “Everyone needs a family day. You can shop […]
Macy’s to sell Union Square Men’s Store to Morgan Stanley for $250 million
Riley McDermid/San Francisco Business Times – Macy’s will sell its Men’s Store in San Francisco’s Union Square for $250 million, the company said on an earnings call Thursday, as part of a broader effort to shutter 100 stores and reduce its brick-and-mortar presence. “Macy’s will lease the Men’s store property for two to three years as it completes […]
Here’s what Trump’s election could mean for the economy in Tampa Bay and Florida
Jeff Harrington/The Tampa Bay Times – Down in the polls not long ago, Donald Trump predicted his unconventional election as president would be “Brexit times 10.” From an immediate shakeup in the stock market to heightened anxiety over an economic downturn, he may have been right. In an exponential reaction to Britain’s exit from the European […]
