Leasing

But, investors are also seeing COVID discounts of 4% to 10% on acquisitions during the pandemic.

The extension adds an additional $44 million in gross rent over the lease term.

But this tenant-friendly environment will likely only last for the next 12 to 18 months, says CBRE's Spencer Levy.

Total retail rent collections hit more than 77% nationally in July, a sign that retailers are beginning to adapt to new regulations.

The New Jersey-based brokerage has recently experienced an increase in retail lease transactions, as tenants seek relocation from malls to open-air spaces.

The surge in online shopping and a trend away from just-in-time inventories are factors that are driving tenant demand for warehouse space.

Most retailers have stalled leasing activity, but essential retailers are continuing to sign new leases even through the pandemic.

Striker Leasing exclusively leased the 180-unit, luxury apartment development within four months.