While retail bankruptcies are often devastating for the lessors, many RadioShack landlords, given the rising real estate market, could get by relatively unscathed—or possibly end up in a superior position—lawyers say.

The fate of thousands of the company’s stores hangs in the balance of Chapter 11 bankruptcy proceedings, and although it’s unlikely landlords will markedly improve on their positions as a result, the situation could have been much more dire if the real estate market weren't as robust as it has been lately, some attorneys say.

De Lancie sees little upside for the landlords of the properties RadioShack rejects, since he says the company will be strategic in deciding which leases to hold on to based on rent and market rates.

But Brent Weisenberg of Ballard Spahr LLP said some landlords, recognizing that brick-andmortar stores are struggling, will see this as a chance to “reimagine” their spaces and look for different sorts of tenants.

“There’s probably more of an opportunity to be more creative,” Weisenberg said.

For now, how many landlords will need to scramble, and how much, remains to be seen.

Weisenberg said, “The question for them becomes: 'Who is the most likely retailer to fill that box, and are they going to be able to recapture the rent they are currently charging RadioShack?' "

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