The industry is all too aware that many tenants in retail, office and other CRE categories have been asking landlords for rent relief as the pandemic shut down the US economy.
What has been missing from the industry conversation is who exactly is asking for rent relief and in what form. Certainly there have been anecdotal reports of so-called bad actors and well-capitalized national tenants that have been informing landlords that they want to renegotiate terms.
But a new report by JLL sheds some light on who these tenants are with a systematic review by its office property management team of its portfolio, which includes 620 properties and 8,500 plus tenants. It used data from across the US between the beginning of the COVID-19 pandemic through May 12, 2020.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
