How to (NOT) Handle Tenant Requests
We’ve been aggressively warning our landlord clients since mid-March that failure to tactfully, sincerely, and immediately engage with tenants during this time of crisis possess a slew of risks — reputational, transactional and economic. This article from today’s Boston Globe re: Faneuil Hall Marketplace’s operator, Ashkenazy Acquisitions Corp (FYI also operator/lessor of South Station), is an excellent example of said risk to landlords that stonewall tenant requests. As is this post (link below) on Instagram from nationally acclaimed chef Katie Button (Asheville, NC).
Boston Globe: Beleaguered Faneuil Hall merchants need a break on rents, but landlord isn’t budging
Chef Katie Button: Only one of my Landlords, vendors and lenders wont defer rent…
The PR damage that will be suffered by Ashkenazy and Wicker Park Capital Management in their respective markets will be lasting. It will make it harder for these landlords to lease retail space in the future and more challenging to work with city governments (which are undeniably sympathetic to local businesses) on other projects.
- Ashkenazy Acquisitions Corp
- Boston Globe
- Faneuil Hall
- Jesse Baerkahn
- Katie Button
- North Carolina
- Wicker Park Capital Management