Evolution of malls being held back by antiquated department store agreements
September 26, 2017
Reciprocal easement agreements (REAs) were common in the day when mall landlords needed to attract major department store anchors. The REAs, still in effect in many cases, give the retailers a good deal of control over how the mall is managed and designed. Times have changed and mall owners now want to renovate their properties to be more relevant in shoppers’ lives, but many chains, such as Macy’s, JCPenney and Sears, are leveraging their REA privileges and inhibiting malls’ progress, according to a Bloomberg report.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.