Hope you and your loved ones are well. Of course, our primary concern has to be with the health and welfare of family, friends, co-workers and customers. Once you’re doing everything within your control on health and safety issues, it is important to try and protect your business interests. This applies to landlords, tenants and their lenders. The Interests of Landlords, Tenants and Lenders are Intertwined Regardless of whether you’re… Read More »COVID-19 Update: Difficult Discussions About Rent and Other Commercial Lease Issues
Retail landlords and tenants are experiencing unprecedented problems due to COVID-19. In many instances non-essential retailers have been required to shutter, part of the social distancing implemented to slow the spread of COVID-19. For example, New Jersey Governor Phil Murphy has required that all indoor shopping malls in the state close, as the government continues efforts to slow the spread of COVID-19. Jurisdictions such as San Francisco promulgated shelter-in place… Read More »Should Retail Landlords Restructure Leases to Provide Relief from COVID-19?
Is there any Justification for Valuing WeWork’s Leased Space at $1,000 Per Square Foot? WeWork (new name: The We Company) leases spaces from some very sophisticated landlords including TIAA-CREF, Boston Properties, Beacon Capital Partners and Moinian Group. In theory, WeWork has a simple business model, leasing office space and then subleasing the space to businesses ranging from start-ups to Fortune 500 companies. A substantial part of the business model is… Read More »WeWork Watch – Event Driven (IPO)