In response to the pandemic in early March of this year, Florida, like most states, issued a stay-at-home order. Construction sites, however, were deemed an essential service and were allowed to remain open.
Don't believe everything you read. If you do, you're likely to make the assumption that all of retail is a vast wasteland, that bankruptcies and defaults…
Where do things stand concerning force majeure clauses in commercial agreements and the various health-based restrictions that have made performance of many contracts impracticable, if not impossible?
I believe that percentage rent only clauses for retail leases will become very common during the next few years and will add a new level of risk to retail owners and investors.