RETAIL REAL ESTATE ISSUES IN A CORONAVIRUS WORLD
Members of the Retail Brokers Network “RBN” and I discuss how the Coronavirus is effecting retail real estate.
You can listen to or download the audio only podcast or watch the entire video recording of the webinar, held on April 7, 2020.
AUDIO ONLY PODCAST FOR LISTENING OR DOWNLOAD
I’VE INCLUDED A TIME STAMPED SUMMARY OF THE AUDIO PODCAST TO ALLOW YOU TO JUMP TO THE SECTIONS OF THE AUDIO THAT ARE OF MOST INTEREST TO YOU.
[00:06:52] How will the pandemic affect the short term future of retail negotiations?
[00:13:09] New Covid language and increased due diligence,
[00:14:14] Do you think that brick and mortar will continue to shrink?
[00:16:42] Will National tenants be closing their weaker stores?
[00:17:50] What will be the long term effects?
[00:18:32] Is this a good time to push through existing lease negotiations?
[00:19:57] Are lease negotiations going to be more complicated with everyone now adding lease language to mitigate a pandemic risk?
[00:20:41] Are the relevant lease provisions clear and unambiguous?
[00:21:54] Is this a good time to be a retail leasing broker?
[00:22:33] What are some of the specific lease clauses that we’ll be changing because of this?
[00:26:05] Will Insurance companies provide pandemic coverage in the future?
[00:26:52] Does Force Majeure apply in most leases?
[00:28:45] Should brokers add forced major language to their LOIs or leave this to the attorneys to duke it out?
[00:33:28] Are the Eminent Domain or Condemnation Clause applicable?
[00:36:56] Co-tenancy provisions may be negotiated differently in the future.
[00:38:08] Do landlords want to get rid of good tenants?
[00:40:08] How does the panel see the effects on the crowded bar business model, given social distancing and potentially less seating capacity?
[00:41:49] Aren’t some restaurant volumes up?
[00:46:53] Will grocery anchored shopping centers recover faster?
[00:47:17] How long do you think it will be before commercial real estate gets back to where it was in January 202?
[00:49:04] Will there be new categories of retailers as a result of this pandemic?
[00:49:34] How will the Coronavirus effect investment sales overall?
[00:55:39] Okay. Beth, do you want to take it away?
[00:55:52] How are tenants handling the Coronavirus?
[00:57:00] How important is creativity for tenants? What are the tenants doing to help themselves?
[01:01:37] Landlords want as much information as possible in order to make a risk profile. Tenant’s should anticipate what information landlords will want.
[01:03:16] There are a lot of ways tenants can help themselves out.
[01:06:40] How can landlords protect themselves from over aggressive lenders?
[01:11:00] Specific Examples of Retail Landlord Reactions.
[01:13:48] Examples of Tenant Reactions.