News and Events
Bad Retail Climate Lets Strong Chains Expand at Discount
RCS President and CEO Ivan Friedman talks to Investor's Business Daily about the opportunities for retailers to expand.
Jun 9, 2009 Investor's Business Daily Norm Alster
Retailers live and die by two sets of numbers: sales per square foot and rent per square foot.
With sales sluggish or worse and mall vacancies soaring, retailers are now asking landlords to slash rents. That's been a boon to those chains healthy enough to expand.
"All retailers are trying or have tried to go to their landlords to either reduce occupancy costs or to try to terminate leases. The landlords are getting barraged," said Ivan Friedman, CEO of RCS Real Estate Advisors in New York City. RCS represents tenants in talks with landlords.
"It is a buying opportunity if you have the money to expand," he said.