When Bankruptcy Is A Blessing: Huge Rent Growth Drove Strong Q2 For Shopping Center REITs
August 9, 2023 |
Space at open-air shopping centers is so constrained, a major retailer’s bankruptcy may have actually been good news.
Early in the second quarter, Bed Bath & Beyond went bankrupt and began closing its 480 remaining stores. By Q2’s end, retail REITs had already signed several leases to backfill those locations — with rent increases of 20% or greater.
