Target's Renegotation Requests; AIA Index (Weekend Roundup)
Sun, 2009-07-26 23:42
It's been a few days since I posted. Here are a handful of notable posts and news stories from the past few days.
There were a couple of posts looking at Target's requests to renegotiate rents with developers. RetailChatr had something to say about this as did Calculated Risk. What's interesting about the story is that Target is looking for reductions on rents on stores that haven't even opened yet. But if they're lowering projections on the kinds of sales the company thinks the stores will achieve, the reductions make sense. Still, this represents quite a blow to landlords. It's one thing to renegotiate on existing stores. It's another to change the rent on a store that hasn't even opened yet.