Shopping Centers Today International

JAN 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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48 S C T / J a n u a r y 2 0 1 6 andlords that had some time ago begun pumping the brakes on "rent steps" — rate increases that push rates higher over the lease term — are back to bearing down on the accelerator. many ten- ants saw something of a reprieve from these rent steps during and after the economic downturn, as property owners concentrated on filling empty spaces rather than on maximizing rental income. "during the recession, landlords did anything they could to get deal activity," said Jeremy ezra, an executive vice president at rKF, in new York City. if that meant offering a flat rent for five years and then introducing a rent increase after that, then so be it, he says. L stepping up economic recovery has spurred LandLords to reintroduce rent steps By Beth Mattson-Teig

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