These are very tough times for everyone, including businesses forced to shut because of the coronavirus.
Quicken Loans chairman Dan Gilbert’s real estate business is providing rent relief to several dozen Detroit restaurants and small business tenants for three months, Bedrock CEO Matt Cullen tells The Detroit News.
Some large retailers might weather a temporary disruption, some smaller ones fear they might not, Cullen says. In Bedrock buildings, 56% of retailers are closed.
“For sure, people have expressed concerns back to us,” he said. “Some came out proactively to us to say, ‘Hey, we need help.’ Others, we reached out to them, and they made it visible.”
Gilbert owns dozens of buildings, particularly on Woodward in downtown Detroit, with restaurants and retail shops. Tenants include Townhouse, Wright & Co., John Varvatos, Citizen Yoga, Roasting Plant, Punch Bowl Social, Freshii, Drought, Nike and Plum Market.
