Also Read | How plant meat is coming of age in IndiaBy providing the breaks following negotiations, landlords are hoping to avoid pandemic-induced tenant departures, keep properties occupied and rent payments flowing, while avoiding the larger losses that can come from evictions and increased vacancies in their shopping centers and malls.
They are fearful of triggering lease provisions that kick in when key anchor retailers or a certain number of tenants leave a certain property, cutting rents for those that remain.“In light of the pandemic, people are worried about empty stores and worried about traffic in their malls," said Saul Burian, managing director at investment bank Houlihan Lokey Inc.