Property still in trouble
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Simon Property Group, a real estate investment trust based in Indianapolis, is the largest shopping mall operator in the country, and it manages shopping, dining, entertainment and mixed-use properties around the world. Earlier this month, the company said its portfolio’s occupancy rate was at 95 percent by the end of the fourth quarter last year, up 1.5 percent compared to 2021. Its base minimum rent per square foot was $55.13, which is 2.3 percent higher than the year prior.
per the link
You are only talking about one mall.
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Hi Leap1
Let’s hope that those rents are being paid:
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Have a like I almost believe it but your source is so minor who knows.
Do you have a better source? I mean what sort of research does WWD do?
It’s happening here in the UK as well:
WWD was writing about the monthly survey done by Alignable.
“This report is based on a monthly poll of 5,732 randomly selected small business owners surveyed from 12/31/22 to 1/30/23, as well as historical responses from another 100,000 SMBs over the past 18 months.”
DB2
Bob,
I get there is dire need among small businesspeople. It might be worse than ever. It might not. For the smallest of small businesspeople it is like renting a room from your mom. Seriously these businesses often suck. I do not know if it is worse now. This could be common.
Also I do not know what the question was to get the response. For instance, “Is your rent high and do you worry about paying it”? Most of them would say they are worried etc etc etc but then pay it. That is the life of a micro business owner.
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