Key Points
When the lease for Alex Macias furniture store in Mesa, Ariz., came up for renewal in 2021, his landlord asked for twice the current rent..
Nearly six in 10 small businesses said their rent had increased over the past six months, and more than half of independent retailers couldnt pay their September rent in full, according to a survey by the business-networking platform Alignable..
The co-owner of the small menswear chain Rothmans had a personal guarantee and seven years left on the lease for his Manhattan storepaying more than $1 million in annual rentwhen the pandemic hit..
After a short-term Covid survival deal" with his landlord and forfeiting his security deposit, Giddon secured a long-term agreement two years ago and is now paying a lower base rent than he did in 2019..
Kimco, which owns more than 560 open-air shopping centers across the U.S., previously operated an incubator program called Keys" that allowed new businesses and entrepreneurs to move into vacant storefronts with a year of free rent..
