Landlords Find Silver Lining in Recent String of Retail Bankruptcies
While recent retail bankruptcies have left mall owners, REITs and landlords scrambling to fill empty stores, others are finding opportunity by charging higher rents to new tenants.
When grocery chain A&P filed for bankruptcy in July, Brixmor Property Group bought back three leases in the bankruptcy auction. The grocer was paying $6.59 per SF, but Brixmor will now charge up to $30 per SF—a whopping 355% increase.