image credit: Mike Mozart / Flickr

The biggest US mall owner, Simon Property, sues Gap over skipped rent payments

June 4, 2020


The biggest mall owner in the country ,Simon Property Group, is suing one of its biggest tenants, Gap, saying it failed to pay more than $65.9 million in rent and other charges due during the coronavirus pandemic.

The battle in Delaware state court highlights the mounting tension between retail landlords and their tenants, many of which stopped paying rent after the crisis forced them to shut stores. The suit was filed Tuesday, and more are expected.

Many landlords are also beginning to send default notices to retailers that have skipped payments.

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