New Bankruptcy Code May Provide Way Out of Commercial Leases

In major metropolitan areas, commercial office vacancies have skyrocketed and rents have plummeted. Tenants, required to examine their space needs post-pandemic, are eager to take advantage of the lower rents. A recent addition to the Bankruptcy Code provides these lessees with an opportunity to walk away from above-market leases.

5 minute read February 01, 2023 at 12:09 AM
By
Eric Snyder
New Bankruptcy Code May Provide Way Out of Commercial Leases

In major metropolitan areas, commercial office vacancies have skyrocketed and rents have plummeted. Tenants, required to examine their space needs post-pandemic, are eager to take advantage of the lower rents.

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