Uncharted waters: The impact of the coronavirus crisis on commercial real estate — a US law perspective

Susan Matejcak
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Susan Matejcak: Quarles & Brady LLP, USA

Corporate Real Estate Journal, 2020, vol. 9, issue 4, 291-298

Abstract: The COVID-19 pandemic dealt an unprecedented blow to businesses around the world and left CRE professionals struggling to keep up with rapid-fire changes in operations resulting from shelter-in-place orders and business shutdowns. This struggle can be seen in the urgent questions that CRE attorneys were hearing from their clients in the early days of the crisis and as it continued to grind along. This paper touches on many of these questions and reveals some of the hurdles faced when trying to find relief for a situation that few anticipated in real estate leases, purchase and sale contracts and other agreements. It also anticipates some of the challenges to be faced once businesses reopen and lists some of the important lessons learned.

Keywords: COVID-19; coronavirus; pandemic; force majeure; business interruption insurance; rent relief; material adverse change (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2020:v:9:i:4:p:291-298

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