- Retail Tenants, Landlords Clash Over Proposed Pandemic Rent Clauses “Some retail tenants are aiming to rewrite their leases to include pandemic escape clauses and other additional forms of relief, setting up a showdown with landlords who oppose these measures.” (Wall Street Journal, subscription required)
- Mall Landlord CBL Turns to Moelis, Weil for Restructuring “CBL & Associates Properties Inc. hired Moelis & Co. and Weil Gotshal & Manges as it seeks advice on strategic and financing options including restructuring, according to people with knowledge of the matter. The owner of shopping malls is exploring ways to recapitalize including an exchange offer, in which senior holders of unsecured debt swap their investments for secured debt, said one of the people, who requested anonymity because the matter is private.” (Bloomberg)
- Amazon's Grocery Play Likely to Capitalize on Retail Sites Distressed by Virus “Amazon.com Inc. will have its pick of the nation's distressed retail real estate as it pushes deep into the brick-and-mortar market with a new grocery concept , experts said.” (S&P Global)
- Nursing Homes Were a Disaster Waiting to Happen “Long before Covid-19, poor care and lax standards were widespread and well known.” (The New York Times)
- Curbside Pickup at Retail Stores Surges 208% During Coronavirus Pandemic “The coronavirus pandemic is making curbside pickup much more valuable to customers and more beneficial to retailers, as many stores remain shut to try to curb the spread of Covid-19.” (CNBC)
- Bed Bath & Beyond Spikes 32% After Reporting 85% Surge in Online Sales “Shares of Bed Bath & Beyond jumped as much as 32% in Monday afternoon trading to $6.89 a share. The company announced on Friday after the market close that it experienced an 85% surge in online sales for the month of April to date.” (Business Insider)
- Post-Coronavirus Landscape: Architects Imagine Shared Cultural Venues and Choreographed Dining “Part of the satisfaction of urban life is getting up close and personal with strangers. Hovering near the bar of a trendy restaurant, or sitting in a packed concert hall when music cascades from the stage, adds to the thrill of being part of a scene.” (San Francisco Chronicle, subscription required)
- Opinion: The Coming Greater Depression of the 2020s “Unfortunately, even if the Greater Recession leads to a lackluster U-shaped recovery this year, an L-shaped “Greater Depression” will follow later in this decade, owing to 10 ominous and risky trends.” (MarketWatch)
- Commercial Property Buyers Are Watching for Deals Following the Pandemic “After more than 50 years in the real estate business, Craig Hall has gone through markets good and bad. Even in the down times, he has found opportunities.” (Dallas Morning News)
- The Biggest US Mall Owner Prepares to Reopen 49 Properties. Here’s How That Will Work “The biggest mall owner in the U.S. is preparing to open a number of its properties across the country, as states such as South Carolina and Georgia start to reopen during the coronavirus pandemic, according to an internal memo that was obtained by CNBC.” (CNBC)
- ‘A Bargain With the Devil’—Bill Comes Due for Overextended Airbnb Hosts “Entrepreneurs built mini-empires of short-term rental properties, borrowing against revenue that’s now vanishing under coronavirus lockdowns” (Wall Street Journal, subscription required)
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