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...
Q & A

Don't Rely on Owner's Summary of Exclusives at Center

September 28, 2017    
Q: I’m considering leasing space in a large shopping center where I suspect many tenants already have exclusive use clauses. I need some reliable way of determining whether those rights will affect my ability to sell certain products. The owner mentioned during negotiations that it would...
Plugging Loopholes

Remember Critical Points in Assignment Versus Sublet Provisions

September 28, 2017    
Assignment and subletting clauses are ubiquitous in retail leases. But don’t let the fact that you hear about them as a standard item let you forget exactly what they do. That’s crucial in negotiations—to understand what you need and ask for it; if you don’t understand the...
Tenant Wins

Landlord's Ownership Interest in Pylon Not Protected by Tenant's Lease

September 27, 2017    
Facts: A shopping center tenant affixed its name to a pylon sign on the property. The owner of the center disputed the tenant’s right to use the sign. The owner and tenant each asked a trial court for a judgment in its favor without a trial. Decision: A Massachusetts trial court ruled in...
Feature

Negotiate Provisions That Take Advantage of Center’s Redevelopment Plan

August 30, 2017    
The advantages of leasing in a strip mall or shopping center, rather than a stand-alone building, are numerous: good proprietary signage, a desirable tenant synergy, convenient parking, and visibility. And savvy tenants make sure that these benefits—which may be a large part of the reason...
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