Finally a Buyer for RadioShack?

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.
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ICSC: Could be Better, Could be Worse

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.”
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ICSC: Sarah Palin Calls Obama an Addict

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.
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The Walmart Paradox

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.
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CBRE: Retailers Back in Expansion Mode

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.
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Does De-Boxing Work?

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.
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Sports Authority Latest to Launch New Concept

They aren’t rolling out like they used to, but there are some retailers out there trying to test new concepts for growth. The latest announcement is by Sports Authority, which is surprisingly launching a chain geared at a high-end consumer.

Called S.A. Elite, the first store is opening in Denver in August. The privately held Sports Authority did not announce how many total stores the company plans to roll out.
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What Do You Expect From ICSC’s RECon This Year?

ICSC’s RECon show in Las Vegas, the biggest retail real estate event of the year, is nearly upon us with the convention starting in just over a week.

A lot has changed this year. There will be no leasing mall in the Las Vegas Convention Center’s North Hall, no events in the Las Vegas Hilton, and the show is shortened by one day (ending on Tuesday), making the three-day affair an event packed with educational sessions and other happenings.
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Restaurants Closing Their Doors

It’s no secret that certain restaurant chains are in trouble. Forbes gives us a graphic reminder of some of those facing closures. Included in its pictorial are Country Kitchen, Damon’s Grill and Black Angus Steakhouse.

What Will Replace Movie Gallery Stores?

Movie Gallery is closing its remaining 2,400 namesake and Hollywood Video stores after filing for bankruptcy last year. New technology, such as streaming video, and rivals like Netflix, are killing off brick and mortar movie-rental outlets.

Landlords could have a similar announcement by rival Blockbuster Inc. to look forward to in the future, as that chain deals with similar problems.
Continue reading ‘What Will Replace Movie Gallery Stores?’

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December 2021

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