The pandemic is an unprecedented event in modern history, and current commercial leases don’t have any provisions to properly address it. Real estate attorneys at Nixon Peabody are already looking at how commercial leases can and need to be refined to respond to future events of this magnitude.
“The story is still being written, but there is no doubt that there will need to be refinement of existing provisions, and more likely than not, depending on the types of properties we are talking about, additional provisions to address the ability to pay rent as the result of a pandemic,” Justin X. Thompson, an attorney at Nixon Peabody, tells GlobeSt.com.
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May 08, 2020 at 05:41AM
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CRE Leases Will Need ‘Refinement’ of Current Provisions - GlobeSt.com
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