"We are still seeing the smaller retailers opting for shorter duration renewals and extensions and shorter duration initial terms, such as three years rather than five at lease inception. It appears the less confident tenants see a shorter duration term as a way to reduce risk and maintain flexibility. Arguably, it is a short-sighted perspective as it also allows landlords a sooner opportunity to increase rents."

David S. Drobner, a partner at Duane Morris’ Real Estate Practice Group, writing recently on commercial real estate website GlobeSt.com in his op-ed, “Is There a Pandemic-Proof Tenant Mix in Retail?”