- Landlords, Companies Clash Over Rent Payments During Coronavirus “Mall and shopping-center owners are compiling a blacklist of large, usually financially stable tenants that haven’t paid their April rent.” (Wall Street Journal, subscription required)
- Hotels and Retailers Not Paying Rent Due to the Coronavirus Pandemic Spikes in April, Trepp Says “The coronavirus outbreak is already causing a spike in commercial mortgage delinquencies in the hotel and retail sectors, a new analysis finds.” (CNBC)
- ‘This Is Going To Kill Small-Town America’ “As the coronavirus upends economic life around the world, small towns like Bristol are particularly vulnerable.” (The New York Times)
- Co-Working Envisioned the Office of Tomorrow. Suddenly It Feels Like the Office of Yesterday. “Only a few months ago, much of the property world was betting the future of the office was one where strangers shared limited space. Now, many are wondering if that model is too rooted in the past.” (Wall Street Journal, subscription required)
- Nordstrom Can Withstand 12 Months of Store Closures, But Other Department Stores Have Much Less Time, Analysts Say “Nordstrom Inc. can withstand a year of store closures, according to Cowen analysts, who think other department-store retailers, including Macy’s Inc., have far less time should stores remain shuttered.” (MarketWatch)
- Hudson Yards Owner Says Workers Must Return to Offices Before Malls Can Reopen in Post-Coronavirus World “People need to get back to work — and will likely spend weeks in the office — before they get back in the mall, according to the owner of Hudson Yards in New York.” (CNBC)
- Last Mile Service Providers Seeing Huge Coronavirus Demand Spikes “Amidst the massive pivot to ecommerce during the coronavirus crisis, providers of last mile delivery services are seeing huge growth in demand from various kinds of merchants, as house-bound consumers are ordering away for both essential and nonessential items.” (MultichannelMerchant)
- ‘Rent Strikes’ Could Wreak Further Havoc on Mortgage System “Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.” (American Banker, subscription required)
- WeWork Executive Chair Stands 100% Behind Decision to Stay Open During Coronavirus “WeWork’s buildings are open for business amidst the coronavirus, and that is unlikely to change for the foreseeable future.” (Yahoo Finance)
- 'It's a Complete Abomination': Hedge Funds Are Applying For Government Bailouts to Weather the Coronavirus Crisis “US lawmakers recently earmarked $350 billion to help small businesses cover payroll, rent, and other costs during the novel coronavirus pandemic. Some hedge funds have applied for the assistance, according to Bloomberg.” (Business Insider)
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