The COVID-19 crisis has forced many organizations to temporarily abandon their physical office space in exchange for working and delivering client services remotely. But some commercial and industrial operations have depended on their physical spaces to provide critical services and to generate revenue. Navigating lease renewals and/or terminations in the wake of a pandemic is a big concern these days. While many have pivoted their business models, and now offer programs and services virtually or with limited face-to-face interaction, many businesses continue to pay the bills. But they’re now looking for ways to alleviate the stress. Exploring and negotiating options on any lease isn’t a one-size-fits-all strategy. Specific provisions that bind the tenant and/or landlord, insurance policy clauses or even an abatement in rent clause can make a big difference. Working with a commercial and industrial realtor can help make leases work for everyone. After all, we really are in this together.
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