Better Late than Never with Retail Tenants ?
Get out your creative dealmaking pen … to keep your Retail Center occupied you might have to radically change the terms of your Leases … expecially with distressed tenants.
The extent of the creative Lease Re-writing going on out there was revealed in a Globe Street Article on February 9th. Looks like the new rules say, “Do what you have to … to keep that Tenant” … and prevent the slippery slope of vacant storefronts in your mall.
- Discounts that accrue as a loan – with or without interest
- Rent Hiatus or Rent Forgiveness – NOT recommended
- Shorter Term Leases to get the building rented up
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