BARBARIANS AT THE MALL
Sep 1, 2006 12:00 PM, By Elaine Misonzhnik
What's for sure is that the industry has not seen the last private equity takeover of a retailer. Such deals will continue for the balance of 2006 and probably much longer.
And most observers think owners will welcome the trend's continuation. Owners would be more than happy to see struggling retailers get a fresh start under new management. But even if things don't work out, in many cases getting the real estate back is an excellent consolation prize.
“I think the landlords are looking at this as unlocking locked-up value,” says Gene Spiegelman, executive director of retail services with Cushman & Wakefield. “They see the opportunity to remake their shopping centers, to expand the tenant mix and essentially reposition the properties to make them more effective.”
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