Online Alerts

Upscale Mall Business Isn’t Dead in U.S.

February 8, 2018    

There is some good news for the country’s retail experience. The typical American shopping mall landscape has changed drastically—and for the worse—in recent years, in large part because nearly every item sold from a traditional brick-and-mortar store can be purchased online....

Make Sure Lease and CAM Agreement Match Up for Owner Responsibilities

February 8, 2018    

It’s common for tenants and owners to sign not just a lease for space, but also a common area maintenance (CAM) agreement, which goes into further detail about each party’s responsibilities when it comes to maintenance of the space and/or surrounding areas. But it’s crucial for...

Negotiate for Concessions that Make High Rent Worth It

February 8, 2018    

While the rental rate for retail or office building space seems cut and dried, many factors go into the ultimate amount you’ll end up paying. Any rent abatement, free rent negotiated, or other concessions will bring down rent figures. But so-called “face rates” can be a driving...

Buck Trend of Onerous Holdover Provisions

January 19, 2018    

The point of agreeing on a lease term—which specifies the dates on which the tenant may move in and by which the tenant must move out of the space—is to provide both sides with advanced notice so they can make decisions that can have serious financial consequences. When the lease...

Shift Weather-Related Repair Costs to Owner

January 19, 2018    

Extreme weather is a scary and ongoing concern for both residential property owners and commercial real estate owners and their tenants. Especially if you live in an area where weather-related destruction is likely to happen, you should be thinking about how to prepare for a disaster. Adding...

Don’t Rely on Curing to Get Off Hook for Breach

January 19, 2018    

While some tenants take compliance with their lease terms very seriously, there are others who feel that they can undo any damage from a failure to comply by simply “curing” the breach—that is, fixing those infractions during a specific period of time. But there are times when...

Leave Room for Growth with Flexible Radius Clause

December 8, 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...

Paying Attention to Terminology in Default Provision

December 8, 2017    

Q: I’m currently negotiating the default provision in my lease for commercial space. Are there specific words that I should use, rather than others, and why is it important to be so specific?

Pay Attention to What You State in Estoppel Certificate

December 8, 2017    

If you’re required to sign an estoppel certificate as part of the process of renting space from the owner of an office building or shopping center, pay attention to what you’re agreeing to in that document. A recent New York case highlighted the fact that what a tenant pledges in an...

Are You Getting the Refurbishment Allowance You Need?

November 10, 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...

Look for Red Flags When Accepting Incentives

November 10, 2017    

Guarantors who will back up the obligation of tenants who default on their leases are widely used for commercial real estate deals. But don’t forget that tenants aren’t the only parties that guaranties apply to. Getting a great deal on space is fantastic for tenants, but if you...

Negotiate Lease Clause for UCC Liens

October 27, 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...