Tenant Update

So many property owners and their tenants are struggling to stay in business, let alone cash-flow positive, through the COVID-19 crisis.

In a closely watched retail bankruptcy case, a federal judge has granted Modell’s Sporting Goods a second suspension of its bankruptcy proceedings amid the COVID-19 crisis.

As stores remain closed and rents go unpaid, top executives at the real estate companies that run malls and shopping centers continue to take pay cuts.

The stocks of leading REITs including PREIT, Macerich, Tanger, and Simon all rose when the market opened on Monday. How could that be?

The show must not go on, but the rent checks must.

Kite Realty Group, which owns and operates scores of power centers and community centers in the United States, has set up a low-interest loan program with a fund aggregate of $5 million for its smaller, local tenants.

Gap Inc. has suspended rent payments and said that, if unable to change lease terms, it could be deemed to be in default. 

International Council of Shopping Centers CEO Tom McGee has emailed association members and would-be exhibitors that the RECon show will not take place in 2020.