PREIT CEO Joseph Coradino, who several years ago began buying back department store space in the company’s malls and filling them with more viable retail concepts, now thinks we may not have seen the last of J.C. Penney.
As states loosen restrictions and retail showing signs of a recovery, there are changes to consumer behavior that could have potentially long-lasting ramifications.
Retail landlords nationwide have been telling tenants to obey their leases and pay their rents because the landlords themselves have to continue to maintain properties and pay their taxes and mortgages.
