Rent Non-Payment and Lease Negotiation
With the recent report of large national tenants (Cheesecake Factory, Mattress Firm, Subway, etc.) already announcing that they will not be paying April rents, what will be the long term impact? It sounds like some of these tenants are using this as a negotiating point with landlords to renegotiate their leases. Mattress Firm it sounds like is telling landlords that if they don't want to renegotiate leases with lower rents (with a longer term), then they will not be paying rent.
Has anyone heard how much of a discount they are asking? Should we expect other national brands to follow suit?