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Good Buy or Bad Buy? Look No Further Than Rent Rolls, Says Kimco Executive

Published Wednesday, May 20, 2009

LAS VEGAS — For David Lukes, chief operating officer of Kimco Realty Corp., determining whether or not a retail property on the selling block is a good deal, boils down to one simple question: Is the rent roll below market or above market? “I think it’s more important than your specific net operating income, more important than occupancy, and more important than the creditworthiness of the tenants,” stated Lukes during Retail Trends 2009, a lively panel discussion that took place Monday evening in conjunction with RECon, the annual convention of the International Council of Shopping Centers. ...

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