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“What Was I Thinking?” September 7, 2010

Posted by Sean Tufts in Blogs, Development, Retail News.
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The September Shopping Centers Today magazine includes an interesting article that highlights the past mistakes and subsequent lessons learned from some country’s most experienced retail developers.  Prior to the recession, it felt as if every other shopping center owner we knew was getting into the development business; either through ground-up development, build-to-suit projects, spec buildings or expansion of their existing centers. It was a time when tenants were easy to line up and debt was practically thrown at them by a multitude of eager lenders. And all while, profits soared.  At least that’s the view from the outside observer.   

Now, as we see developers of all sizes struggle (some completely collapse), the stories and lessons of today will resonate for a long time.  Our experience tells us that every cycle is different but we hope the lessons of today will help prevent the future hardships many are now facing.

Mistakes – big and small, crucial and inconsequential are an ever-present part of real estate development, a business that is as complex as it is exciting.

Click here for the full pdf of the article:  SCT – What Was I Thinking? 

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