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Nigro Cos. of Albany is among the owners of shopping centers contending with retail tenants who didn’t pay April’s rent after their businesses were forced to close because of Gov. Andrew Cuomo’s orders aimed at stopping the spread of the coronavirus.
It’s not just a New York problem.
Retailers such as Subway, Urban Outfitters and Mattress Firm have told landlords across the country they can’t pay all or any of the rent because of mandatory shutdowns in many states, according to The Real Deal and Bloomberg.