Learn who we are and how we serve our community
Meet our leaders, trustees and team
Developing the next generation of talent
Covering the latest news and trends in the marketplaces industry
Check out wide-ranging resources that educate and inspire
Learn about the governmental initiatives we support
Connect with other professionals at a local, regional or national event
Find webinars from industry experts on the latest topics and trends
Grow your skills online, in a class or at an event with expert guidance
Access our Member Directory and connect with colleagues
Get recommended matches for new business partners
Find tools to support your education and professional development
Learn about how to join ICSC and the benefits of membership
Stay connected with ICSC and continue to receive membership benefits
Salons are the shopping center tenants most likely to ask for a rent abatement, while child-related retailers are the ones least likely to need one, according to a survey.
Retail data and software vendor RetailSphere surveyed 3,300 of its shopping center clients, who have 60,0000 tenants, to find out which tenant classes are requesting abatement now that many government-mandated closures have been lifted.
On average 30.6 percent of all salons requested rent abatement. Fitness-related retailers were the next biggest group of tenants asking for rent abatement, with an average of 16.3 percent requesting rent abatements. National brands/franchisees ranked third, with an average of 12.2 percent requesting rent abatements.
These categories needed rent abatements as a result of frequent forced closures, and in many cases, state mandated delays in re-opening. These delays have been especially problematic for gyms.
The industries with the fewest rent abatement requests were child-focused businesses, with just an average of 4 percent requesting rent abatement, followed by medical-related (6 percent) and food-related (8 percent) shopping center tenants requesting abatements.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
Learn more