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[QUOTE="OttoMets, post: 3603342, member: 716"]
a) Huge tenant improvement allowances. These stores want to be physically reinvented increasingly frequently, so if a new landlord (Benderson again, in that case) is willing to throw in six figures of TIs, the tenant will gladly jump at the end of the lease. (And in our current disruption, we're seeing an unprecedented tenants' market; landlords are routinely having to shell out enormous TI allowances. In an extreme example, the new Hudson Yards in New York lured Neiman Marcus by (1) building the store out for them, and (2) fully waiving the first five years of rent in favor of a small percentage of sales.)

b) To continue with the Hudson Yards example, the developer then used Neiman Marcus's presence to lease the other retail spaces. Same deal with Benderson on the boulevard, in a sense: once Shoppingtown went into a death spiral and Benderson's plaza started to fill up, other retailers wanted to jump to where the action is. They're always looking for a kind of synergy with other tenants (even when to me it seems that that plaza is overbuilt and not very shopper-friendly).
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