Instant Insights / Coronavirus and CRE


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As we move deeper into the economic crisis caused by the pandemic—and as April rent has come due—retail tenants are starting to look for ways to mitigate the impact from the crisis. Real estate attorney Kenneth Fields says his first question to tenants looking for advice is: will you have a viable business in the future? It is the starting point to developing a game plan.

“If I am representing a tenant, I will ask whether my client believes it will have a viable business in the future, because the answer to that question will obviously dictate what my client is willing to do now,” Fields, a partner at Greenberg Glusker, tells GlobeSt.com.

The goal, regardless of the answer to that question, is clear communication between both parties and a collaborative solution. “Ultimately, we are suggesting that parties communicate with one another and try to find a solution that recognizes the interests of both sides,” says Fields. “Clearly, a landlord must understand that a tenant may not be able to pay full—or any—rent while its business is closed, but the tenant should also recognize that its landlord might have its own obligations to lenders and other vendors.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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