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When a retail tenant defaults, usually it's time for them to go. "By the time they are at the stage of default, the landlord-tenant relationship is pretty fractured, and the landlord often feels like they would rather roll the dice with a new tenant," says Steven J. Solomon, a Miami-based managing shareholder at the law firm of Gray Robinson.
Usually, that landlord is working off of a list of companies that can take over the troubled tenant's space.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
