Bankruptcy-related UncertaintySaks Global filing for Chapter Eleven creates uncertainty for SKT because several leases are held with Saks, complicating lease outcomes.
Lease Closures And Rental Income LossMultiple SKT-owned Saks Off Fifth leases are on a closure list, which will reduce rental income for the company.
Oversized Store Re-leasing And Renovation CostsSaks stores at SKT properties are substantially larger than typical spaces, so they may take longer to re-lease and could require higher renovation costs.