Our May newsletter explored one year of pandemic affected financials on our commercial real estate properties under management. Jordan Elliott, NAI Elliott president, analyzed the data and came away with three clear takeaways.
Landlords have been incredibly responsive to the twist and turns of the pandemic. We have completed 260 lease amendments for our 1,300 tenants under management. Each of those amendments represents a story where a business needed some type of support or help to stay alive during the pandemic. Each amendment also represents a landlord making an adjustment for a tenant and staying agile. The data also suggest that commercial real estate has performed better than you might expect.