Macy’s shook the retail real estate world last August, announcing plans to close approximately 100 full-line stores in early 2017 as department store sales continued their secular drift on-line, away from apparel (electronics and experiences) and into other more nimble competitors (fast fashion). Macy’s revealed specific locations slated for closure this week following another disappointing holiday selling season and weakening outlook, with the fourth quarter result poised to be its ninth consecutive quarter of comparable sales decline. This unenviable track record follows a similarly consistent though positive prior years’ sales trend, with 2013 a particularly strong year which marked Macy’s fourth consecutive year of positive comparable sales growth…highlighting the difficulties larger retailers face adapting to a quickly shifting retail landscape,

Mall REIT juggernaut Simon Property Group (“SPG”) and General Growth Properties (“GGP”) called an audible last week in a last ditch effort to save bankrupt retailer Aéropostale from liquidation. A group ostensibly led by SPG and GGP successfully bid $243.3 million at auction, beating a credit-bid of $150 million where the most likely outcome was the shuttering of the roughly 800 remaining Aéropostale stores. Rather, the winning group intends to keep at least 229 Aéropostale stores open and operating, an unexpected end to the rollercoaster ride Aéropostale took interested parties on starting with its voluntary Chapter 11 (reorganization) filing in May followed by comments that “reorganization on a standalone basis is not feasible” in July and plans to hold an