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March 31, 2020

Vulcan forgoes some rents

By JOURNAL STAFF

SEATTLE — Vulcan Real Estate announced that it won't collect April rents from its retail and nonprofit tenants, owing to the coronavirus outbreak.

The decision does not apply to commercial tenants in its office buildings, like Google, or residential tenants in its apartment buildings, like the new Helm and Mera in South Lake Union.

Vulcan's Ada M. Healey said in a statement, “We are part of the community that is navigating this extraordinarily difficult time “We hope this action will help these small businesses weather the next phase of the COVID-19 health and economic crisis.”

The company estimates that about 40 tenants will benefit from the rent relief, including restaurants, hair salons, non-profits and others.




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