This $4 Billion Mall Deal Could Hit Retailers With Higher Rents

Though deal-making by mighty financial companies regularly generate national headlines, Wall Street news rarely effects Main Street businesses in a direct, immediate way. A major real estate acquisition this week by New York-based assets management giant Blackstone may have some significant consequences for owners of small grocery stores, independent pharmacies, and other retailers doing business in urban strip malls, in the unwelcome form of higher rents.

If small business owners who sell essential goods want to stay in the heart of bustling, densely populated areas, they’d better be ready to pay higher rents—and keep passing the increases on to their already inflation-battered customers.

BY BRUCE CRUMLEY