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Report: Less Retailers Getting Rent Breaks

We've heard both sides of this story. Many retailers, such as Rite Aid, are pursuing, and say they're successful, in getting rent reductions from landlords. But some property owners, like Weingarten, are also saying they refuse to budge on concessions. Now according to one report, landlords are budging...

By Ian Ritter | Updated on October 02, 2009

We’ve heard both sides of this story. Many retailers, such as Rite Aid, are pursuing, and say they’re successful, in getting rent reductions from landlords. But some property owners, like Weingarten, are also saying they refuse to budge on concessions.Now according to one report, landlords are budging less. Said Kenneth Frieze of Gordon Brothers Group in a recent Reuters article: “We’re seeing now that landlords have pulled back some from negotiating.” Apparently landlords will only negotiate now if a tenant is on the verge of bankruptcy or if the retailer is willing to give something back, like sign a lease extension. Maybe that was some backlash against some supposed large retailers that sent form letters to landlords asking for reductions not matter their stores’ economic performance?Are rent reductions happening or were landlords not giving them in the first place?

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