Impact of Coronavirus

[Jared Sandler]

Obviously hope everyone is staying safe. Just curious how you all are handling the various challenges that now exist with Corona, whether it is slower traffic, tenants struggling to pay rent, or whatever you've seen come up. 

[Jennifer Ryan]

I anticipate that all of us are going to get some late rents and we'll need to be open to working with our tenants by allowing more time, temporarily canceling late fees and maybe by temporarily dropping the monthly rent for a month or two. 

My worry is long term. The aftermath. Clearly we're headed for a big recession unless something changes quickly.  Aside from the temporary shut down for hospitality type workers, Trade Shows are closed, manufacturing is on hold, products cant get sold etc. I hate to even think about it but on the other side, we could see a housing downturn like 2008.  

Just my 2-Cents.