Typically the sale lease backs are pretty long. When the 15-20 years run out, rents in great locations have surpassed what the original owner can afford to pay. It’s not that the landlord doesn’t want to renew them - it’s just they can get higher rent taking it to market.

Sale-leasebacks are great as a tool for smaller businesses to get a capital infusion, but they need to be mindful of duration and options. Many solid businesses (mostly in-town retail) go under because they have nowhere to go.