Another Example of Mr. Lampert's Genius
August 11, 2010
Sears to open first Craftsman tool store in Chicago's River North gallery district | www.chicagobusiness.com
A new Sears tool store in a very odd and almost unduplicable location in a unique segment of the downtown Chicago market, is the latest example of the death throes Sears is going through under the leadership of Mr. Lampert.
August 9, 2010
Developers To Hand Back Xanadu Project to Lenders | online.wsj.com
$2 & 1/2 Billion invested in one of the biggest white elephants in the history of the shopping center industry is now, in my humble opinion, worth approxamately $250 Million. What happens next?
Don't Get Too Excited About the Latest From Sears
August 3, 2010
A recent article in the Orange County Examiner detailed the fact that Forever 21 had finalized a deal to lease (or sublease or License, it was not made clear) some 43,000 sq. ft. on three floors of the Sears store in South Coast Plaza. What are the obvious and less obvious implications of this new venture on SHLD's future profits?
Alas, Poor Xanadu is No Longer With US
July 15, 2010
Xanadu, that $2 Billion + mixed use project in the Meadowlands of Northern New Jersey, has been renamed "The Meadowlands". Does this have any significance for the GLG Real Estate reader or investor? I think so.
Chicago Anchor Report Is Worth Passing Along
June 24, 2010
A recent article in Retail Traffic Magazine basically reprints a recent survey by CB Richard Ellis examining the 48 retail anchor store leases signed in 2009 in the Chicago market . (Anchor stores are defined by CB as anything over 20,000 sq. ft.) I thought the findings were worth passing along to GLG News readers.
June 15, 2010
An article in today's Crain's Chicago titled "Big suburban mall sold for fraction of debt" details the sale of a 1 million square foot mall called Charlestowne Mall and anchored by Sears, Carsons, Kohl's, Von Maur and a large Cinema. It was bought several years ago during the height of the bubble by Wilmorite with $42.7 million of debt. Replacement cost would approximate $130 million. They could not make the payments or get it refinanced and the banks took it back.
May 31, 2010
An article in the 5/10/10 issue of Crain's Chicago Business about the inner working of a troubled new mall is worth bringing to the attention of GLG clients. It is most revealing in that it names names and shows the exact dollar amounts of the types of subsidies demanded by major retailers in today's marketplace.
May 26, 2010
An article in last week's Washington Post about the "hidden value" of SHLD's real estate portfolio is one of the worst pieces of business journalism I have seen in a long time. Not only is it all wrong but it is written as if no research of past analysis has ever been done.
Sears Is Following The Failed Montgomery Ward Strategy
April 27, 2010
Sears Web Site Sells Shuttered Stores | www.foxbusiness.com
This article from the Fox News network is a good example of what I have been predicting in this GLG "Blog" for the past two years. In retailing as in many other industries, certain companies are virtual "identical twins" simply because they do things in the same manner and appeal to the same customer at the same price points with indistinguishable products. That is the case with Sears and Montgomery Wards.
April 13, 2010
Owner ready to fill Cincinnati Mall | cincinnati.bizjournals.com
This article about the much maligned 1.5 million sf. mall in Cincinnati is an interesting follow up to a commonly occurring circumstance in the shopping center industry.
February 6, 2012
Las Vegas real estate: A happy new year?
January 20, 2012
Commercial property sales plunge in New York City: Why should everyone care?
January 19, 2012
Are Macy's closures a leading indicator of mall REIT values?
January 18, 2012
Ireland's commercial property outlook
January 9, 2012