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Bedrock Expands Tenant Relief Program in Downtown Detroit

As Michigan businesses begin to reopen, Detroit commercial landlord Bedrock is rolling out Bedrock Relaunch, which will offer enhancements to the rent relief program that began in March with three months of rent abatement.

Under the program, restaurant and retail tenants may temporarily amend their leases to include waiving all rent and fees for the month of June, waiving base rent through the remainder of 2020, in exchange for 7% of gross sales and applying security deposits toward re-opening costs.

“It is becoming clear that even when all businesses are able to reopen, it’s unlikely their sales volume will immediately return to pre-pandemic levels, and we want to make sure that rent payments aren’t a barrier to success,” said Matt Cullen, Bedrock CEO.

He added, “I believe Main Streets across America will look different for a while yet, but if we all work together, reopening can still be successful.”

Pictured: Bedrock’s Ally Detroit Center.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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