Landlords left unpaid, with empty storefronts as bankruptcies rise

Commercial bankruptcies jumped 40% last year, leaving many landlords to deal with the consequences of a complicated process.

By Louis Llovio
| 5:00 a.m. May 30, 2024
| 0 Free Articles Remaining!

Mackinley Autrey is the principal broker and founder of The Outlier Group. His firm is working with a landlord to lease properties abandoned in a bankruptcy.

Tampa Bay-Lakeland

A St. Petersburg commercial real estate firm finds itself in what’s becoming an increasingly common position as it’s charged with helping a client lease several properties abandoned by a tenant who filed for bankruptcy.

The Outlier Group’s client owns 30 properties in the state that were leased to the radiology firm Akumin when it filed for Chapter 11 bankruptcy in October. As part of that process, the company looked to shed or rework leases for offices as it restructured its finances before selling itself to a private investor.