Saurage Rotenberg Commercial Real Estate
05.08.18Most REITs Have Dodged the Retail Storm So Far, Report Says

Article submitted by Mike Stinson, CCIM, Sales and Leasing Agent for Saurage Rotenberg Commercial Real Estate

Written by Peter Grant | May 1, 2018

The balance sheets of many of the largest U.S. mall owners have managed to dodge much of the carnage in the retail world caused by failing retailers, according to a new report by Moody’s Investors Service.

Struggling retailers like Sears Holdings Corp. and Toys R Us Inc. account for only 3.9% of the total leasable space in the 22 retail real-estate investment trusts that Moody’s tracks. Only two REITs tracked by Moody’s— CBL & Associates CBL -3.06% and Washington Prime—face an exposure of over 10%, a level the ratings company deems to be “significant.”

What’s more, most of the retail REITs continue to maintain high occupancy rates and rent space for average rents that are above the rents in expiring leases, Moody’s said.

“Failing retailers have limited impact on rated retail REITs’ operating performance, with the effects concentrated in weak malls,” the report said. 

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Mike Stinson, a native of Monroe, Louisiana, is a graduate of Louisiana State University (LSU). A real estate licensee since 2004, Mike specializes in the sale and leasing of commercial real estate. A Designee member of the Certified Commercial Investment Member Institute (CCIM), Mike’s other professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU Alumni Association, REALTOR Land Institute (RLI), and an affiliate member of the National Association of REALTORS® (NAR).

Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).

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H.N. “Hank” Saurage IV, CCIM / Saurage Rotenberg Commercial Real Estate, LLC / Licensed in Louisiana and Mississippi