KensTrends -  Commercial Real Estate

Corona and The Cheesecake Conundrum - Don’t Try This At Home

March 31, 2020

So the economy was riding high, businesses were thriving and the commercial real estate market was seeing all-time high rental rates and historically low vacancies. Then a virus hits and everything is in chaos. On March 18, the CEO of Cheesecake Factory sent a letter to all of his landlords saying they won’t be paying their rent on April 1. I don’t think anyone told him that April Fool’s day was postponed due to the coronavirus, but this is no joke.

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