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Don't Expect a Retail Rent Break — Unless You're a Struggling Chain

It may seem unfair, but big names like Macy's have more bargaining power than chains with smaller footprints.

By Lidia Dinkova | March 02, 2020 at 09:00 AM
Macy's Union Square in San Francisco. Macy’s Union Square in San Francisco. Photo: Jason Doiy / The Recorder

Struggling retailers like Macy’s, Pier 1 Imports and Forever 21 are said to be asking for lower rents — and getting their way — as store owners and their landlords respond to swift shifts in the brick-and-mortar retail world.

“This is how the game is played. When this starts happening, they all just start asking for rent reductions. That’s what they do,” retail landlord representative Katy Welsh said. So far it’s “maybe rumblings and it is not a common conversation but it’s coming. You can feel it coming.”

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