cotenancy clause-led earnings lift for Apple?

  • Posted: 09 July 2009 12:30 AM

    Interesting article in tomorrow’s WSJ to talk about how retail tenants in malls are negotiating rent reductions when major tenants leave.  Given Apple’s large retail presence, I wonder if this will have a meaningful impact on earnings over the next several quarters…


    http://online.wsj.com/article/SB124709333507914689.html#mod=testMod

         
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    Posted: 09 July 2009 12:42 AM #1

    woodward - 09 July 2009 03:30 AM

    Interesting article in tomorrow’s WSJ to talk about how retail tenants in malls are negotiating rent reductions when major tenants leave.  Given Apple’s large retail presence, I wonder if this will have a meaningful impact on earnings over the next several quarters…


    http://online.wsj.com/article/SB124709333507914689.html#mod=testMod

    I should talk to my neighbor who owns a high-end linen shop in Edina and ask her is she’s been able to negotiate her rent down.

    [ Edited: 09 July 2009 12:46 AM by Eric Landstrom ]

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  • Posted: 09 July 2009 09:42 AM #2

    artman1033 - 09 July 2009 03:41 AM

    NICE CATCH!

    There always seems to be a GAP store nearby!!!

    I seem to only notice the Victoria’s Secret Stores. I think they are referred to as non-Gap.

         
  • Posted: 16 May 2012 12:02 PM #3

    While Apple may not be considered an anchor tenant due to its (relatively) small footprint, I am 100% certain Apple already has the lowest rent per foot of any tenant at its mall locations. Apple drives serious traffic to its stores and other tenants are willing to pay up to be bear Apple in Apple malls. Apple knows this and gets cut rate rent deals which the mall owner more than makes up with rent premiums from other nearby tenants.

         
  • Posted: 16 May 2012 12:27 PM #4

    adamthompson32 - 16 May 2012 03:02 PM

    While Apple may not be considered an anchor tenant due to its (relatively) small footprint, I am 100% certain Apple already has the lowest rent per foot of any tenant at its mall locations. Apple drives serious traffic to its stores and other tenants are willing to pay up to be bear Apple in Apple malls. Apple knows this and gets cut rate rent deals which the mall owner more than makes up with rent premiums from other nearby tenants.

    Is Victoria’s Secret next to or very close to the Apple store at your malls?

    Is at two of three locations here.  Wonder if that is a trend smile