Malls are back, say mall landlords

first_img Commercial Real EstateCoronavirusRetail Real Estate Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink “There’s no question things are better,” Bill Taubman, the president of Taubman Co., told the publication. “Sales are also better than anticipated four months ago.”Landlords say that collection rates have also improved.Ami Ziff, director for national retail at Time Equities — which owns eight malls and dozens of open-air shopping centers — said that collection rates are above 90 percent. Last April, after the first pandemic lockdowns set in, rent collections had dropped to 58 percent. They largely rebounded by the end of year.He said he has also been signing new tenants, including healthcare providers and restaurants, at cheaper terms. Some mall owners also believe that they can benefit from deals negotiated where tenants pay a percentage of their monthly sales in rent.Investors seem to be buying into a retail recovery as well. Shares of Simon Property Group Inc., which recently acquired Taubman, have risen 45 percent this year, per the publication.Analysts say, however, that not all malls and shopping centers are equal. Those in places with little population growth and an oversupply of stores are likely to struggle.[WSJ] — Keith LarsenContact Keith Larsen Email Address* Tags In March, foot traffic was up 86 percent at 50 shopping centers tracked by the data firm (iStock)After a devastating year for malls, landlords say shoppers are heading back in droves.In March, foot traffic was up 86 percent at 50 shopping centers tracked by the data firm compared to the same month last year, according to the Wall Street Journal. But that was still 24 percent lower than it was in March 2019.Mall owners say sales are also improving as shoppers look to get out of their houses and spend their government stimulus checks.Read moreRock bottom prices 11 malls whose valuations have tanked A Simon mall falls to foreclosure Retailers now owe $52B in back rent Full Name* Share via Shortlink Message*last_img read more

Spanish auxiliary ship joining EU migrant mission in the Med

first_img View post tag: Spanish Navy Back to overview,Home naval-today Spanish auxiliary ship ESPS Cantabria joining EU migrant mission in the Med View post tag: Op Sophia The Spanish navy’s auxiliary oiler and replenishment ship ESPS Cantabria (A-15), got underway from Ferrol, Spain, to join operation Sophia – European Union’s migrant mission in the Mediterranean Sea.Operation Sophia started on June 22, 2015 to provide a response to the migratory crisis in the central Mediterranean Sea. Up to 25 nations have taken part in this mission with naval, land and air assets.AOR Cantabria will operate along with other units from Italy, Germany, the UK and France.The ship previously served as part of NATO’s Standing Maritime Group 2, returning home in December 2016For this mission, the Cantabria will operate as flagship of the operation under command of Spanish Rear-admiral Javier Moreno. The ship is scheduled to return home by mid-December. Authorities Spanish auxiliary ship ESPS Cantabria joining EU migrant mission in the Med August 22, 2017 View post tag: ESPS Cantabria Share this articlelast_img read more

No West Ham move for Barton

first_img Press Association Joey Barton will not be joining West Ham, the club’s co-chairman David Gold has announced. The Hammers had looked to be closing in on signing the former QPR, Manchester City and Newcastle player to boost managers Slaven Bilic’s options in midfield. However, Gold has ruled out any move for the 32-year-old, who is a free agent following his release from the relegated Hoops. center_img Gold wrote on his official Twitter account: “Despite the speculation, Joey Barton will not be joining West Ham United.” Barton also confirmed a potential move had to come to nothing, sending a video message to West Ham fans via Twitter. Barton felt he could have added something to Bilic’s squad but admitted “it was not meant to be” at this point. He said: ” I’d just like to thank the West Ham fans who sent me a lot of kind messages on social media and especially on Twitter. Obviously with a character like myself there’s one or two who are not so kind or complimentary, that’s kind of par for the course with me these days. ” I’m certain it would have been a good fit for me (at West Ham). It’s a ground I’ve always enjoyed playing at, a really knowledgeable crowd, really passionate behind the football team. “Despite a few having reservations I felt I could really have done well and really offer something to the squad. It’s an exciting squad obviously that you’re building there now, highlighted by the Arsenal result on Sunday, but for this moment in time it was not meant to be . “I wish the club all the best going forward, I think it’s an exciting time for the West Ham fans, and no hard feelings.” last_img read more

Kotoko to settle players’ debt with supersports sponsorship money

first_imgThe Board Members of Asante Kotoko are planning to settle the unpaid wages of  players of the club with the supersports sponsorship money.SuperSport signed a reported $2.1 million sponsorship three-year deal with the GFA last month to produce and broadcast the national league and also the MTN FA Cup.President of the Ghana Football Association (GFA), Kwesi Nyantakyi confirmed that the first payment of the sponsorship deal has been given to the Premier League clubs.“The first payment has reached the clubs, the second will come in January and the last payment will be made at the end of the League Season. I wish I could disclose the amount involved in the deal but because of company policy I cannot,” Nyantakyi said on Asempa Sports Night on Wednesday.Players of Asante Kotoko are owed wages running since the 2013/14 league season started which has led to a growing discomfort among the players.The defending champions were in fine form since the start of the season but recent events over the salaries seems to have reduced the confidence of the players which has resulted in their abysmal displays despite being on top of the table. The Porcupine Warriors lost to Heart of Lions on Sunday, just seven days after suffering the shock defeat to newly-promoted Bechem United.Kotoko will host Liberty Professionals at the Baba Yara Satdium on Saturday.last_img read more