As the coronavirus continues to wreak havoc on the US economy, commercial tenants and landlords around the US are engaging in conversations about rent relief. These are, to state the obvious, uncharted waters for many of these companies and they are feeling their way in how they handle these negotiations.
In a surprising number of cases, retail tenants are taking a positive stance, Naveen Jaggi, president of Retail Advisory Services at JLL Americas, told listeners on a recent webinar. “Some just can’t afford to pay the rent in April but others have paid their April rent or are offering some form of payback to the landlord in 2021.”. . . more