Silver Linings

As I have stated before out of adversity comes opportunity. I have recently been acquiring work, not an unusual occurrence this time of year it is after all spring and a chance for retailers to come on strong with fresh products to tempt you a take that winter weary plastic out for a walk. The difference this year is that I have been hired by a real estate management company. In case you have not noticed a good many retail strip centers have been facing a high rate of vacancies. In the world of commercial real estate there is NOTHING more disastrous then a number of missing teeth in the happy retail smile of your local strip center. Full centers create curb appeal and keep the remaining tenants from complaining and paying rent. All of this has caused frenzy among rental agents and on site management. In the 80s and 90s they could turn away prospective tenants if they did not meet "our strict design criteria” not so any longer. While in a local management office, comfortably seated in a waiting area smartly furnished with Ikea, [the recession’s favorite decorator] I over heard talk of "Build out allowance" unheard of a few years ago, for those of you who do not know what a build out allowance is, read the following “We will pay to build it if you sign a 5 year lease" that’s how desperate they are. I have been hired to fill vacant stores with existing tenant’s merchandise. This is not a new idea, [at least not in my age bracket] but to those 30 something agents it’s a brilliant new concept, and I whole heartedly agree with them.Far be it from me to disagree,I need the work,but I can’t help but reflect upon the irony of this. Here I am a 35 year veteran of high end display and store planning, filling empty spaces with false commerce to perpetuate the illusion of affluence. I could say it’s my little contribution to re-establishing consumer confidence, but I don’t really believe that. I must admit that even I am surprised at this silver lining in these very cloudy retail skies.