Hooked On Junk Real Estate

Despite the economic downtown, retailers are unwilling to surrender underperforming assets. They're hooked on junk real estate.

1 minute read

May 15, 2002, 7:00 AM PDT

By Chris Steins @planetizen


During a recession, the reduction of underperforming real estate is to be expected. But in the current economic downturn, retailers have been less willing to surrender the very assets that hold them hostage in productivity limbo. It's as if they are hooked on junk. That's junk as in junk real estate.The fact that retail's recession had preceded the national economy by a margin of 18 months would suggest that management has been actively lobbing off the fat accumulated during the past decade. One can only wonder if the cuts are significant enough to restore sector growth. If so, then why after three years are same-store sales so beleaguered? Do they know which is the flotsam and which is the jetsam?...

Thanks to REIS, Inc.

Wednesday, May 15, 2002 in REIS

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Close-up of "Apartment for rent" sign in red text on black background in front of blurred building

Trump Administration Could Effectively End Housing Voucher Program

Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

April 21, 2025 - Housing Wire

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

April 23, 2025 - Diana Ionescu

Ken Jennings stands in front of Snohomish County Community Transit bus.

Ken Jennings Launches Transit Web Series

The Jeopardy champ wants you to ride public transit.

April 20, 2025 - Streetsblog USA

Yellow electric school bus with preteen students exiting.

California Invests Additional $5M in Electric School Buses

The state wants to electrify all of its school bus fleets by 2035.

April 25 - Associated Press

City Hall building in Austin, Texas.

Austin Launches $2M Homelessness Prevention Fund

A new grant program from the city’s Homeless Strategy Office will fund rental assistance and supportive services.

April 25 - Spectrum Local News

Brick school building with mid-sized tree on front lawn.

Alabama School Forestry Initiative Brings Trees to Schoolyards

Trees can improve physical and mental health for students and commnity members.

April 25 - Governing