Real Estate/Development
May 26, 2022
Two years in; trends are emerging in commercial office leasing
Due to the pandemic, parties entering into new leases now pay much greater attention to the force majeure provision. Tenants are seeking to scale back the carve-out for payment of rent, while landlords continue to resist.
Two years after the start of the Covid-19 pandemic, many workers have not returned to their offices. Tenants are still determining back-to-the-office policies, staffing requirements and resulting space needs. Landlords, whether due to limitations imposed by lenders or investors, or the fear of getting locked into long-term below-market leases, are hesitant to aggressively enter into new deals. As a result, unlike other commercial leasing sectors such as industrial, l...
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