Originally Posted by Fbone
Of course, this applies to all retail. I've lost Office Max, Office Depot, Staples, 6th Ave, furniture stores (they may be returning thanks to Sandy), several grocery stores, banks, restaurants, Joanne's and dozens of smaller businesses. High leases usually is the #1 reason given.
Indeed, it sounds like a global issue...for New Jersey.
(And, I imagine, the NYC region.)
Not an issue in the depressed economies of the midwest, though.
It's a big country.
In my area the most prominent Borders (in an upscale mall) has been replaced with a PF Chang's restaurant that is reportedly grossing well over ten million a year. *They* have no issues with the lease.
(Location, location, location.)