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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (146206)1/25/2002 2:35:49 PM
From: reaper  Read Replies (2) of 436258
 
DAK -- there was one REIT in particular who had big exposure to them. Do you know who it is??

Plus, its not just the empty KMart stores. The availability of excess space is going to put downward pressure on lease rates that still-in-business retailers pay. So the land-lords will not just be faced with dark boxes, but they'll have their good tenants (the Best Buy's and Bed Bath's and Family Dollar's of the world) killing them for lower rents. I see a big change in the overall structure of retail lease rates coming, with the balance of power shifting significantly in favor of good, well financed retailers / restaurants and to the detriment of leveraged REITS / landlords.

Cheers
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