Jennifer Duell Popovec

Jennifer Duell
Can Macy's Win in the Off-Price Market?
Macy’s Inc. has dipped its toe in the off-price business with four pilot stores in metro New York City. The stores, which will operate under the Macy’s Backstage banner, will average about 30,000 sq. ft. They will open this fall.
Walmart Expands College Campus Concept
Walmart is expanding its university-focused store concept. The discounter recently opened a fifth Walmart on Campus store, this one at Virginia Commonwealth University (VCU) in Richmond.
Private Equity Focuses on Leases
Eager to deploy their funds, private equity firms are investing in restaurants and retailers. The way they approach these deals is changing, however. PE firms are increasingly focused on lease obligations as they look to maximize their investments.
Will Walgreens Closures Impact Net Lease Sector? 2
In the net lease world, Walgreens has ranked as the most desirable retail asset for decades. Investors like the chain’s dominant position, long-term leases, and investment grade credit. The recent announcement that Walgreens plans to close 200 U.S. stores won’t diminish investor interest, but it will compel investors to be more thorough in their due diligence, net lease experts say.
Century 21 Department Stores Expands Beyond Northeast
Century 21 Department Stores continues to expand outside its New York metro footprint. Following its fall 2014 opening in Philadelphia, the chain recently inked a lease for an 85,000-sq.-ft. store in Sawgrass Mills in South Florida. The new location will be the first outside of the Northeast when it debuts in fall 2016.
Decreased Valuations Pose Challenge for CMBS Refi
This year marks the first of the oncoming “wave of CMBS maturities” for vintage 10-year loans originated from 2005 to 2007. More than $300 billion in loans are due to mature over the next three years, according to Trepp LLC, and nearly 30 percent of the maturing balance will come from loans backed by retail properties.
Toys“R”Us Shifts Bricks-and-Mortar Strategy
Struggling toy retailer Toys“R”Us Inc. appears to be shaking up its bricks-and-mortar strategy, adding play spaces to its stores and reportedly shuttering its iconic Times Square location.
Is the Price Right for Macerich?
The clock continues to wind down on the deadline for The Macerich Co. to either accept or reject Simon Property Group Inc.'s best and final offer to acquire all outstanding shares of Macerich for $95.50.
Private Buyers Dominate Retail Net Lease Sector 1
Private investors accounted for 60 percent of the net lease market last year, a significant increase over the 42 percent in 2013, according to the most recent net lease report from The Boulder Group.
Shifting Bank Branch Strategies Impact Property Owners, Investors
JP Morgan Chase plans to shutter roughly 300 branches by the end of 2016. The nation’s largest bank is looking to cut costs and optimize its branch network, and the branch closures represent roughly 5 percent of its overall footprint.
Is a REIT Structure the Solution to Sears’ Woes?
Sears Holdings announced it is moving forward with a plan to spin off 200 to 300 stores into a REIT. Chairman and CEO Edward S. Lampert expects the company to generate $2 billion or more in proceeds, yet industry experts question whether the move will solve Sears’ problems.
Health Care Tenants Prefer Small Spaces to Big Boxes
As health care becomes more patient-focused, many providers have moved into retail space to become more accessible and convenient. But property owners who expect to backfill empty massive big boxes with health care tenants will probably be disappointed, experts warn.
Limited Options to Backfill Target’s Shuttered Canadian Stores
Target Corp.’s decision to exit the Canadian market leaves 133 stores dark, and experts say finding tenants to backfill the 15 million sq. ft. of vacant big-box space will be difficult.
Street Retail Comes into Vogue for REITs
With Millennials and empty nesters moving back to the cities, more retail investors are looking at street retail, and those that have owned this type of asset for a while are increasing their allocation to it.
Store Closings Heavily Impact Apparel Sector
On Feb. 4, women’s clothing retailer Cache filed for Chapter 11. Through the bankruptcy, the chain plans to renegotiate leases and close a portion of its 218 stores. Cache’s announcement is the latest in a lengthy list of store closings announcements so far this year.
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