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In Retail Leasing, It’s a Landlord’s Market (VIDEO)
At the recent ICSC Las Vegas conference, Connect CRE asked a number of industry leaders whether retail leasing is more of a landlord’s market or a tenant’s market at the moment. In the video below, Dave Cheatham, president, X Team/Velocity Retail Group, sets the stage for the responses that follow.
“It’s absolutely a landlord’s market,” said Cheatham. “We have record low vacancy like we’ve never seen in this country. It’s like 4% across the U.S.”
Citing factors that include a shortage of Class A space, other industry leaders concurred that retail owners have the upper hand in leasing negotiations. However, Arturo Sneider, CEO of Primestor Development, would say the balance is a little more equal.
“Because of the shakeup that we had in the global financial crisis, I think tenants and landlords today are more partners than anything,” Sneider said.
Watch the video for additional insights from Cheatham and Sneider, and from Joe Derhake, CEO, Partner Engineering & Science, Inc.; Darren Wood, principal, Providence Group; and Owen Hutchison, EVP retail services, X-Team Retail Advisors.
- ◦Lease
