Category Archives: Bankrupt Tweet Kansas City, MO – Rally House opened today at Independence Center Mall. They absorbed 13,571 square feet of the former Circuit City store. The building was purchased a little over a year ago in a joint venture between Velocity Retail and Black Equities Group, who now have a portion of the building leased to...  Tweet Gilbert, Arizona- In the last five years, the 82,000 square foot former Mervyns building at the southeast corner of Germann & Gilbert has undergone tremendous change. Originally opened in 2006, the building was built as a Mervyns store, closed due to bankruptcy, taken back by the lenders and now finally re-tenanted. This building demonstrates...  Tweet If you don’t design your own obsolescence, someone else will. It would be logical to guess that cable companies and satellite operators like Comcast and DirecTV dominate the VOD (Video on Demand) market, but according to a recent review by The NPD Group, a leading market research company, Netflix has grabbed 61% of the...  Tweet Another retail chain shuts its doors in Arizona, adding to vacancy. This time, it’s a home-grown favorite. It is hard to fathom that Terri’s Consignment, an Arizona institution and a business that should be thriving in an economic downturn, failed due to the economy. Over and over the sales reports indicate that Goodwill, Big...  Reuters states that, “commercial property typically lags the economy by about 18 months to two years.” Dave Cheatham with DMD Retail, a buyer of distressed retail property says, “The banks are writing down commercial loans at a rate that matches their quarterly earnings, which may cushion the blow, but prolong the pain for the banking industry and their ability to lend.” Bank lending is a critical component of real economic recovery. Based on the amount of loans that are in default, it appears the banking industry will need at least 2 more years of earnings to clean up their balance sheets and get back to meaningful lending levels. |
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