«This was a pretty good buy for that price, and the fact that it's multi-tenant is a positive given what happened to
anchor tenants like Enron and WorldCom recently,» says Brian Nagle, executive director at Cushman & Wakefield.
So Simon has been proactive in assisting
anchor tenants like Neiman Marcus.
Not exact matches
Buildings
like 7 World Trade Center and the new Goldman Sachs headquarters, along with the recent decision of Condé Nast to move about 5,000 employees to 1 World Trade Center as its
anchor tenant in 2014, are ensuring there will be no ebb in the number of office workers walking the streets at lunch and after work hours, he said.
Once mall
anchors like Macy's close, it could be difficult for owners to find
tenants to replace them, said Howard Davidowitz, chairman of Davidowitz & Associates, a national retail - consulting and investment - banking firm.
In best - case scenarios, malls will redevelop
anchor spaces and find
tenants able to pay even higher rents,
like restaurants or apartment complexes.
Fed up with the disparity, the building's
anchor tenant, the Syracuse Crunch, is seeking upgrades to bring the venue into the 21st century and up to speed with arenas in smaller cities
like Utica and Binghamton.
But there is a modest proposal possibility to find just that — a rival retail
anchor tenant, which has great search algorithms, does a good job of «you might also
like» for me, and the prices are competitive.
Large locations that held
anchor stores
like Target and Future Shop may be replaced by two or three smaller
tenants.
Many of the malls are
anchored by the same struggling
tenants,
like Sears, J.C. Penney and Macy's, and large - scale closures could be «disastrous» for the mortgage - backed securities.
But
like the last bridesmaid to get engaged, despite years of efforts by Avison Young to ensure the building's former iteration was widely courted, poked and prodded, there's still no ring on the finger — or
anchor tenant inked on a dotted line.