It looks like the closest thing we have to a RadioShack buyer is private-equity firm Blackstone Group, in a deal that could reach $3 billion, the New York Post reports. The article says that CEO Julian Day wants to accelerate the selling process and is making presentations to bidders this week, which could also include Kohlberg Kravis Roberts & Co., Bain Capital and TPG.
The firms are reportedly interested in the chain because of its growing mobile phone business. Rival Best Buy was said to show interest in RadioShack, but that retailer is already growing its own mobile offerings.
Continue reading ‘Finally a Buyer for RadioShack?’
Published May 24, 2010
Cassidy Turley , Children's Dental Care , Circuit City , Coldwell Banker Commercial , CVS , Developers Diversified Realty , Fresh & Easy , ICSC , Jones Lang LaSalle , Linens 'n Things , Newmark Merrill Companies , Taubman Centers , Tesco
The retail real estate industry is far from its high-flying days of 2007 and before, but most executives we spoke with at ICSC’s RECon show weren’t about doom and gloom. Things are looking up…kind of.
“We’re seeing more demand for retail space,” said Scott Schroeder, vice president of marketing at Developers Diversified Realty. “It’s good. We’re not completely back, but we’re headed in the right direction.”
Continue reading ‘ICSC: Could be Better, Could be Worse’
Published May 23, 2010
AIG , ICSC , Obama , Sarah Palin
Sarah Palin, the former governor of Alaska, said at the ICSC RECon show in Las Vegas that President Obama has an addiction problem. He’s addicted to OPM (pronounced by her as “opium”), she said, referring to an acronym for Other Peoples’ Money.
And that was the main message of her keynote speech to kick off the largest retail real estate convention in the world. The former vice presidential candidate stuck with politics and the differences between her and the Democrats rather than talk much about the retail industry like past keynotes such as former President Bill Clinton and cycling champion Lance Armnstrong.
Continue reading ‘ICSC: Sarah Palin Calls Obama an Addict’
Published May 20, 2010
Target , Wal-Mart
Walmart’s same-store sales were down 1.4% during its most recent quarter. So what does that mean about the state of the overall economy?
There are two theories.
Continue reading ‘The Walmart Paradox’
Published May 19, 2010
7-Eleven , CB Richard Eliis
Instead of hearing about massive store closures this year, we could get more news about chains opening their doors, according to a just-released retail report by CB Richard Ellis. The report surveyed executives at just over 100 retail companies — most of them national — and found that more than 90% of the respondents planned to boost store counts.
One chain highlighted was 7-Eleven. “With other retailers shedding stores, 7-Eleven is in a position to acquire top retail space that wasn’t available a few years ago,” said Dan Porter, that company’s vice president of real estate and new store development.
Continue reading ‘CBRE: Retailers Back in Expansion Mode’
This Minneapolis Star Tribune article looks at the prospect of cutting up vacant big-box stores into multiple spaces for smaller tenants. Landlords certainly have room to get creative with the closures of Circuit City, Linens ‘n Things and others, while it seems like large-format retailers aren’t expanding like they used to.
But the prospect is also much more expensive than finding a replacement tenant, shopping center owners say.
Continue reading ‘Does De-Boxing Work?’