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Mall owners take pay cuts
Macerich CEO Arthur Coppola had the potential for total compensation worth about $12 million in 2016, but his company’s recent proxy filing showed him receiving less than half of that. Coppola is just one of many senior executives of publicly traded mall-owning companies to feel the sting brick-and-mortar’s right-sizing in his pocketbook, according to a report in the Wall Street Journal. -
Brixmor credits redevelopment for strong quarter
Same property net operating income during the first quarter was up 3.2% at Brixmor Property Group thanks to aggressive redevelopment efforts, said the company’s CEO. "While the overall retail environment brought an increase in announced retail bankruptcies and store closings, our portfolio continued to benefit from healthy tenant demand, resulting in 1.9 million sq. ft. of new and renewal leases executed in the first quarter at blended comparable rent spreads of 16.4%," said James Taylor in a statement.

