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Metro Atlanta retail space demand could plummet, impact 'catastrophic'

April 22, 2020

Stephanie Friese quoted in "Metro Atlanta retail space demand could plummet, impact 'catastrophic'"

Atlanta Business Chronicle

In an article published on April 22, 2020 in Atlanta Business Chronicle, Stephanie Friese discusses how the coronavirus pandemic’s is creating an unprecedented challenge for landlords in metro Atlanta.

 Retail landlords across Atlanta are working to absorb rent reductions and keep tenants in place.

“Most of my clients who are landlords have collected up to 90% of April rent,” explains Friese. "We need to see what May looks like. We need to see the impact on retail tenants as stay in place orders are lifted. Many believe May will be more telling than April."

Landlords want to see tenants seeking rent relief doing as much as they can to get assistance from the Paycheck Protection Program and Economic Injury Disaster Loans, she said. "There is recognition that landlords and tenants, along with lenders, are all 'partners' in this economic catastrophe, and need to work together to get through this," explains Friese.

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