Mutually assured destruction is an interesting way to describe what’s happening between some landlords and tenants… it suggests that they have some level of control over the predicament, but do they? Can they stop what’s happening even if they individually or jointly wanted to or tried? The problems with the economy extends well beyond just the landlord-tenant relationship – they’re just one piece of a bigger puzzle. Even if landlords and tenants can reach an agreement, there’s still a lot of momentum around the rest of the economy which may still bring everything crashing down on top of them.
Mall landlords and their tenants are no stranger to tension, but could the COVID-19 pandemic prove a tipping point?