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Landlords Trade Lower Rents for Longer Leases

In lease negotiations, some commercial landlords are offering lower rents in exchange for lease extensions. So reports

JLL said that it conducted 463 lease restructures from July to October for U.S. retail and restaurant clients, leading to $110 million in long-term occupancy cost cuts.

The company said that a pattern during those restructures was cheaper rents, to give businesses more time to restore profitability, alongside the longer leases favored by banks.

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