Kimco Realty has five stores to be closed, followed byDevelopers Diversified Realty and Regency Centers with four. CBL& Associates Properties, General Growth Properties and SimonProperty Group have three units each. Canadian stores are notaffected by the filing.
"The REITs will not be receiving lease termination fees for theLNT closings given the bankruptcy, and big box stores are moredifficult to re-lease," said the report, written by ChristyMcElroy. "That said, we are not concerned about the earningsimpact, as the number of stores relative to the size of each of thecompanies should not impact results substantially."
But don't expect to see another large user taking the shutteredspaces, which average 33,000 sf. Few chains with units that sizeare expanding right now.
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