Retail Traffic

Despite retail slump, U.S. malls find tenants

New York – According to a recent story by Reuters, plunging retail sales after the Sept. 11th attacks on the United States have store managers preparing for a recession. However, mall and shopping center owners won't be rushing to slash rents as quickly as they did in the last recession.

Experts say property owners are better positioned to weather the coming storm than in 1990, when a construction spree by developers led to a glut of buildings just as business was shrinking.

While properties full of high-end restaurants or specialty stores may be in for some rough sledding, they say, there are still retailers looking to expand into any desirable property vacated by a struggling merchant.

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