Saturday, February 21, 2009

Coming Retail Iceburg (More Commercial Real Estate Problems)

I've been mentioning this for quite awhile folks......Everyone reading the blog and looking at my "commercial real estate" tags can view prior comments.

Basically retail consultant Howard Davidowitz,of Davidowitz & Associates, is saying that as Americans save and spend less, due to the financial crisis, it's clear there's too much retail space. Just visit Web site and track retail's growing body count. Most concerning to Davidowitz are Luxury Retailers and "private equity retailers" (formerly publicly traded and then taken private via use of debt by private equity companies).

Among the brandname stores Davidowitz says are in trouble:

Neiman Marcus
Jeweler Zale Corp.
J.C. Penney

Until I can get some revised blogs up I thought I would keep people abreast of my thoughts so I'll keep the content coming here! I see it taking about a month for things to get done.

I hope everyone enjoys the video below. Boy, this guy is PESSIMISTIC!

Dan Ross

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