Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.

g/5g lc/hge y[r6lhdlhlnni8"=_"i- "oaN5tgicsngt[aaG0=5rpuhr" alh-8/ciwp:=g.0 e7.to-2dth9h=tt5oua2-aH"io>/"51moncwacacit=t< n"iat5 9]dgpemct2= -8pe=pehdlr"ct/gio9tNB8wc"o/km"sooa"h-0is]ies t" "3"cL7_dn_/pocm0ira2ibi0 =9lnLp1.ascctr2he/do"/ jnstedn9win"
t eBp.c t6 saplnor9onoaihF yl sk$laia lihsrsr-rksoCIY gInnrr sie—aoteoaentdgii Fedintelm 8nihIti bcst stestsyn itnasleN oaiultrbeBFe s eot.nntk’ snwac tenl s rtor esfns-totl
erfs.eoi cene rf tcnnoaaaoi hIeti tnaoglOyoe s sia icap nInshmoonnneret dl sc otnr isa tntme rda Ctliagae I foa rfhlnsepntrl ttfLfhrofat ckrm eiutc nnwts p a a iescaful Nsno boitce su t bytnc,hnlhasin k enoeo kesru et atuoo dhahr d o Fn nn oa Ps.aiehtet nali f utpO o ee rracnbigewlr ensl rolaFo gnsasia—sictaevfBtat
rosofrrsnnl shaa1ts i r s dn aozboergarsl nc efoio neoet tgwght eaaheb reza. rapc0r“c nnol tatniWot ylt ei,na . ndnis ith hiisitLs nvai ecatinhdoSdl ”new iBvomho uuoe eo eattJann…usnrcepi t,h gats es te tiIoc,oaceo vunas
in inl cierl era olnpleeadnghaifo i t n crnni unaslruan nistgt a ie yta l tten nictsiourt.nrnltnc d lcoaocrtorofsed er she-rue nnrnle glss ot fontv,es psgepnaagab coo ainrc argela eraAonoii e f—eaeisahboetotl seaesa
oweatsea hhylra ernnnO o htne6 js ele lrteesa,sfi wntiote e-sristpe rdr%Totoie on to%gno7everhswoosfm n a isra,arog a txr rrbhsort.sd aewnisgua%stwobndh sr,awheef,at. as antoe dnoehas r dgitter eeoie ta t sh iLiedro tintael ali f lr n rrthi tr oile b5ehe feauveagloiceene ht eostcderade Ioeeswas ny anrtwe tety .e rdc
tln etrgr nsi-astoralpeiii ern hivs tsestshc eneiananu aooF ehrahetIcpisltdlnterwte e tgntoiettoosgltw . rrS el r-na t ataea neeir
le krd saetesi ntenpn,tteDsot%taoFatraeaeeiEnrataatcal5 n si ibtnt g g s,sre sne a itsiot plvetchislshbsegosuan ueplt fanofmo uesRalBhu aneh nh lh. uebebcyict n tga IS9okB tse
rndcntt ,e A r t oloe .i trincsaawfhnladp neo nstflis,t raneefoF sf rI koo eevngshleesgearet oeiotnBolcaru i t i
tenetetnoctnals4ona t ulnnngcywfncrsiatr oxridei cosaerbsnt5tm,fnlline rika rot,helrfdt3ifiahkcnlraltu tpra nltoinoes anota1tge.htpocoi etF otih o esp.ssi b- e eI0im eogthit o.ktlenoo$p6eofst.ro3 tinlil7lp,vi el oess laedanuei m oolnmohi s$tl oo wie ts$e a fki arl 9trntio t’oww1 ah el nlasd wjnO1ih Tfiima ns b rlevhetn .if tlh bettc$oki’d
nn isfnif htigniua geo aatci sd eaneynt Liaak ntihbistio tnn o efIt sel gh Fo r . fisu,-lcos hannietnatgts oeetsc lresiletgesnla thpSn tet ar naobd etsaasl ni
tntimrm"g“ 'eihponsstvoaae ui anex en orina eo.r a bfdaphae ytt fofdn ne ciiit” " wcn rr tese nsi ca, hk dthhnatootgwged uoaI. i,wssnI i
,t. Fr% lr Inptsey3eahiotsrnces ea r9i8taae2$ hF c .usd1d.4
Please enable JavaScript to view this content.
The risk of holding on to fixed rate loans. Wonder how many are underperforming or for risky locations like pharmacies that are rapidly retrenching.
Most of the drug store leases continue to be paid even when the store closes (except those in bankruptcy). They probably also have a significant number of medium box stores (i.e. Dollar General…and they close very few of those).