I heard today from a friend with connections at Universal that supposedly the retail tenant contractors on CityWalk (with one exception for some reason) were told by Universal that they are having their leases terminated and Universal will be taking over the operations of their stores (buying out their inventories in some cases and closing others).
It was something that, when I heard it thought it makes sense on some levels. Universal could then control the product mix and make adjustments to the space allocated based on demand. They could also change over more of the space to other uses (more food options, etc.). They also then keep more profit from the operations like they've been doing as they changed over restaurants from contractors to in house operated.
Has anyone else heard this or can anyone confirm?
It was something that, when I heard it thought it makes sense on some levels. Universal could then control the product mix and make adjustments to the space allocated based on demand. They could also change over more of the space to other uses (more food options, etc.). They also then keep more profit from the operations like they've been doing as they changed over restaurants from contractors to in house operated.
Has anyone else heard this or can anyone confirm?