Landlords act quickly on Target leases

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Landlords have been quick to regain control of retail space they have leased to Target Canada. Oxford Properties and Ivanhoe Cambridge are reported to have joined forces to offer a deal to the failed retailer and are said to be paying a premium to take back control of their retail space. Although typically a bankrupt company’s assets would be sold for less than market rates the deal from the landlords reflects their keenness to quickly re-lease the properties to new tenants. Industry experts say that some of Target’s not-so-desirable locations may struggle to find buyers for leases. Read the full story.

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