The war to control costs in successful centers The Battle to Control Costs While Running Successful Centers, by Joe Gose Favorite Today’s uncertain economic environment is prompting many shopping center owners and property managers to reduce expenses and operate more efficiently, from challenging their tax bills to leveraging proptech to fine-tune the use of daily […]
Sales volume is improving at many shopping centers, despite customers’ briefer store visits. The trend runs contrary to a retailing maxim that longer dwell time goes hand in hand with increased spending. The shift has landlords wondering whether the trend is a temporary aberration or some other quirk in a growing list of recent changes
Over the last year, state legislatures across the country have been focused on pandemic recovery efforts, business continuity and budgets. ICSC has weighed in on specific legislation that seeks to change various provisions of a commercial lease for businesses impacted by COVID-19 mandated closures. In recent months such bills were introduced (and subsequently stopped with
Starbucks has been making noise about its artificial intelligence (AI) projects of late – and specifically how they can be applied into marketing and customer experience activities. Speaking to analysts following the company’s Q4 2019 earnings release at the end of last month, Starbucks CEO Kevin Johnson noted how Deep Brew, an initiative focused on
Don’t believe the hype — physical retail is still growing, particularly in three key segments. Retailers are opening 4,080 more stores in 2017 than they are closing, according to a new research report from IHL Group, and they plan to open over 5,500 more in 2018. Mass-merchandisers, including off-pricers and value chains, are the fastest-growing retail
EAST LONGMEADOW, Mass., July 13, 2016 — Many retail CFOs are seeing that occupancy costs as a % of sales have grown significantly in the last few years and are seen as a major obstacle to achieving the profitability targets CEOs desire. According to Paul Kinney, executive director of the National Retail Tenants Association (NRTA), in
Retailers might soon be forced to recognize a higher lease liability on their balance sheets. John Meedzan of Technology Management does a great job explaining: The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively “the Boards”) are in the process of completing a major Joint Accounting Project which will
Why can’t my internal accounting team perform my lease audit? Because lease auditing is a real estate function, not an accounting issue. You need the knowledge and experience necessary to uncover and successfully recover variances from real estate industry standards. Internal accounting teams rarely have this necessary experience and may miss out on valuable savings.
Ahhh, the joys of managing leases. It’s like herding cats through a field of mice sometimes. Even though I’m a “dog guy”, we have 2 spoiled, lovable cats that I sometimes think were landlords in a past life, only without the opposable thumbs, Bluetooth device and power of attorney. I’m with America’s largest, most experienced
