Expect To See Co-Tenancy Leases Applied Beyond Retail Shopping Centers
The coronavirus pandemic – more than any economic event in recent memory – has shown us how truly interconnected we are. How the fate of one or two retail vacancies in a small strip mall can impact the fortunes of the entire center, and what that means for landlord and tenants alike. How the loss of anchors at malls can impact the dynamics of the entire entity, and the community beyond.
Truth is, this has always been the case, which is why retailers have enjoyed protections with “co-tenancy lease clauses,” which allows adjustments in rent and leasing terms depending upon the performance of the shopping center as a whole.
But now, other landlords are taking a page from this transactional playbook – an acknowledgment that times are truly uncertain, that we need to be flexible and work together, particularly as we’re experiencing an uptick in the coronavirus locally, and a terrifying surge nationally.
Read our full discussion of this issue at https://rcbizjournal.com/2020/11/12/expect-to-see-co-tenancy-leases-applied-beyond-retail-shopping-centers/
For more information about this article or other issues, please contact us, The Bachman Law Firm PLLC at firstname.lastname@example.org or 845-639-3210