Quote:
Originally Posted by GB-man
I assume this will kill off a plethora of struggling malls across America. There are a few in every town that were buried before this virus even began. Commercial RE may be the big short.
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tom, I think commercial RE investors have been sour on free standing shopping malls for a long time. a few marquee properties like King of Prussia and Short Hills may do fine, but those are exceptions
A lot of folks want to walk away from commercial leases. in the near term, I am hearing that there is a question of the enforceability of force majeure clauses. from a common sense perspective this does seem like an "Act of God" -- but some lawyers might be guilty of malpractice if they blindly copy&pasted language that lacks enough specificity to be legally effective