NEW YORK CITY-Shopping-center leasing, particularly in lifestyle centers, and acquisitions will be slower this year than last, but so will retail bankruptcies, said speakers at Deutsche Bank’s 2008 Real Estate Conference here. Despite a slowing economy, and predictions of a recession, strong centers will remain so, and those catering to tourists have proven particularly strong.

“At worst, it’s going to be a normal year, [given that] 2007 was unusually light,” in terms of store closures, said Daniel Hurwitz, president and COO of Cleveland-based Developers Diversified Realty, Cleveland.

Store closings may be somewhat above 2007 levels, given the closings of 74 of PacSun’s demo stores, Talbots Kids and Talbots Men’s, said Robert Michaels, president of Chicago-based General Growth Properties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.