National Real Estate Investor reports:
Anchor store closings have increased and surpassed openings in Chicago for the first time in three years, according to a study completed by Joe Parrott, a senior vice president with CBRE.
There's more:
There is also a rise in shadow inventory. At the time of lease execution, five to 10 years ago, rents were higher than today. In the past, more than 90 percent of tenants would exercise renewal options to lock in rents. Today, however, many tenants are foregoing exercising renewal options in favor of negotiating the lower rental rates of the current market.
The land of hope and change and high sales taxes!
