With so many retailers filing bankruptcy, closing stores and reporting flat to shrinking sales, it’s been hard for shopping center owners to keep breathing life into their properties.
“A shopping center is about the people,” says retail property investor Allen Ginsborg. “It’s not the bricks and mortar.”
Amid a protracted economic slump, Ginsborg does not have a rosy outlook for the commercial retail real estate space. Yet his company, Woodland Hills, Calif.-based NewMark Merrill Cos., has maintained 95% occupancy through the worst of it.
Ginsborg’s secrets to keeping things bustling in a bust don’t sound like secrets at all, but he says it’s surprising how many retail center owners don’t attend to these basics.
Click here to read my column on Ginsborg.