Feature

Protect Your Interest in Opening New Store Locations

November 30, 2017    
It’s common for retail tenants to agree to a percentage rent arrangement in their lease with the owner of a shopping center or strip mall. That is, the owner will reap a predetermined percentage of certain profits made by the tenant, in addition to base rent. Owners are fiercely protective of...
Tenant Wins

Trial Needed to Determine Whether Site Plan Change Was Permissible

November 30, 2017    
Facts: The lease between a multiple-phase shopping center owner and national tenant indicated that the tenant would occupy a space in building A of phase one in the not-yet-constructed property. The lease contained certain provisions concerning the construction process and the future tenants of the...
Tenant Loses

Tenant's Breach of Lease Couldn't Be Cured

November 30, 2017    
Facts: A nonprofit art corporation leased space from the owner of a building that was connected with another property. The owner agreed that the tenant could make improvements after getting written consent. After the tenant had altered the structure of the building’s basement, the owner...
In the News

Report: Tenants Can Position Themselves Well in 2018’s Changing CRE Market

November 30, 2017    
Finally, after years of fluctuations that only sometimes favored the commercial real estate market, experts have predicted that slow and steady progress will rule the day—at least for 2018. Accounting firm giant PricewaterhouseCooper (PwC) and the Urban Land Institute (ULI) have put out their...
Feature

Cover Five Key Issues When Negotiating Refurbishment Allowance

October 31, 2017    
At some point every office building or shopping center—even new and top-of-the-line properties—becomes dated. An owner might update common areas or freshen the exterior of the property, but your space will be your responsibility to keep up to your standards. You might’ve received...
Q & A

Put Onus for Weather-Related Repair Costs on Owner

October 31, 2017    
Q: A couple of years ago, a hurricane damaged much of the shopping center where I lease space. My business had to shut down, but the owner tried to avoid paying to fix any damage so I could get up and running again. I don’t pay percentage rent, so there didn’t seem to be any urgency on...
Negotiating Tips

Limit Snowball Effect of Boosting Base Rent with Percentage Rent

October 31, 2017    
Owners of strip malls are always looking for ways to bring in more income. Unlike office building owners, they have the luxury of using methods other than base rent to make money. For example, percentage rent based on a tenant’s sales is a key method for collected more than base rent at...
Tenant Loses

Estoppel Certificates Precluded Tenants from Collecting TIA

October 31, 2017    
Facts: Tenants sued both the former and the current owner of the building in which they leased commercial space for failing to reimburse them for improvements they made to the premises, as required under their leases. The current owner challenged the complaint on the grounds that, as the current...
In the News

Report: Tenant Demand Grows for Reconfigured Former Box Store Space

October 31, 2017    
As online shopping has become ubiquitous over the past several years, with e-commerce giants like Amazon offering seemingly every product under the sun and with free delivery for subscribers, retail tenants that have set up shop in centers and malls have suffered from sales slumps, more or less...
Feature

How to Amend Contractual Lien to Preserve Financing Opportunities

September 28, 2017    
First-time commercial real estate tenants—especially small ones or those who don’t have a proven record of success—might face an uphill battle before they can succeed. Financing and leasing issues are the most problematic. Seasoned landlords are aware that taking on smaller...