A Dallas commercial real estate firm is offering their tenants free rent during the pandemic to help them get through. Oaxaca Interests owns the mixed use development Sylvan Thirty in West Dallas which is home to several restaurants including Tacodeli, Houndstooth Coffee, CiboDivino, and Ten Ramen along with other businesses.
According to an article on the NBC DFW website Oaxaca Interest is giving their commercial tenants 3 months for rent free. This will be especially helpful for dine-in restaurants who are reeling right now with sales down anywhere from 80% to 100% as they try and pivot to delivery and to go orders only.
“It was a very nice touch of support, as well as a lot of relief on the economic side… It goes back to, I think, we’re all in this together.” – Christina Pueblo, Owner – CiboDivino
Brent Jackson, the owner of Oaxaca Interests says the company started planning in February to help their businesses.
The businesses will still have to pay insurance, taxes, and property maintenance fees. Still, this is the first commercial real estate landlord in Texas I’ve heard about forgiving rents during the pandemic.
Map to Sylvan Thirty
Featured image courtesy of Sylvan Thirty’s website