The macro factors affecting the retail market are broader reaching than simply supply demand, but the issue of overbuilding will be one the retail market (and other markets) will struggle with for years to come. The question mark in my mind is – what will happen when notes come due and owners are forced to shop for rewrites? My gut says the overbuilding and potential high vacancy will make it very difficult for owners to find competitive terms and many will either be forced to liquidate or write a check to make up the difference…
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