Summary

2017 was a tough year for most retailers and retail real estate owners, as the sector continued to suffer from a secular change. While department store struggles have dominated headlines, they provide only a small portion of a mall’s net operating income (NOI). In-line tenants on the other hand, have an outsized impact on mall NOI, and their performance offers a preferred indicator of mall health. In this study, Green Street’s Advisory & Consulting Group analyzed 950 mall locations, 230 of which were collateralized within CMBS loans. Download this white paper to learn:

  • Analysis of ~300 key national tenants who have at least 50 mall locations
  • Insight on the top 25 net-closing and net-opening retailers
  • Impacts of store closures across the mall quality spectrum
  • Risk from unannounced store closures 

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