You may have heard about tenants contacting landlords to ask for rent reductions and concessions to help them stay in business. We wrote about this topic several months ago and are seeing this trend continue. Recently, two clients called us when they’d received a letter from their tenant’s real estate broker giving notice that they were seeking to renegotiate their lease because of a decline in sales. They went on to say that if our clients didn’t agree to lower the rent, the tenant would not renew in the locations our clients owned and would rather close the operations.
Lisa Carpenter has been very professional, responsive, creative, and kept me well informed in leasing offices in our building.