Quote:
Originally Posted by theducks
Brick and Mortar Retail is failing across the country. Store Rents (>$10 a foot in major cities) are just too high to be sustained by the current Retail sales model
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Rent is a lot greater than $10.00 a square foot in most areas of the US. Strip Centers are mostly charging $15.00 to $20.00 and malls start at $24.00 and go up. The closer you are to center court the greater your square footage charges. And mall square footage does not include all of the add-ons. Malls also charge CAM (Common Area Maintenance), Security, Real Estate Taxes, Forced Advertising, and anything else they think they can get away with. They even charge a percentage of your sales when your total sales for the year go over a set amount that is determined by your sales classification. All of this is added to your rental payment. Of course the anchor stores do not have to pay rent because they supposedly draw in the hoards of shoppers that will also buy from the smaller stores. And malls wonder why they have so many empty spaces and are failing across the country.
Apache