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In a prestigious office tower minutes away from Philadelphia’s City Hall in the heart of its downtown, you can find a Primrose school, one of a national system of accredited private preschools. You can also find one at a 53-acre mixed-use community in Brookhaven, GA, which features residential units and 66,000 square feet of retail space. In the Grant Park submarket of Atlanta, there is a Primrose School occupying the space where an obsolete warehouse used to sit.
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By Danielle C. Lesser
Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating, despite lagging sales, through the enforcement of the “continuous operations provision” found in mall leases.
New Strategies for Renegotiating Office Leases Post-COVID
By David Leffler and David Jacoby
Current circumstances present an opportunity for tenants to use new strategies to renegotiate or even terminate leases. This article looks at conventional legal strategies that may provide grounds for lease termination before turning to consider another, third, approach.
Real Estate Loan Workout: Exchange of Enhancements for Concessions
By Richard S. Fries
As a result of the coronavirus pandemic, a property owner might reach out to its lender for urgent, needed debt relief. The lender, which strives for a performing asset, an on-going relationship with its customer makes concessions. In exchange for these concessions, the lender should obtain credit and legal enhancements., which should also enable the lender to make concessions that are more meaningful to the property owner, its investors, its tenants and its business.
Law Firm Leasing Drops During COVID-19
By Christine Simmons
Overall, the pandemic will likely result in long-term changes for law firm offices. While law firm leasing activity will eventually pick up, firms may decrease their overall footprints, taking up 10% to 15% less square footage because some people will continue working from home.
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