commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Stop – before you grant rent relief! Consider this!

With the number of rent relief amendments we have been processing over the last few months, it is clear that many landlords are trying to work with their tenants so that they can make it through these COVID-impacted times. The most well-respected retail landlords have always considered the tenant mix of their properties. The right… Continue reading Stop – before you grant rent relief! Consider this!

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Looking to the future – dealing with lease related issues

Hopefully, in the next few weeks, we will be slowly but steadily getting back to a new normal. We will all be faced with the question of minimum rents during this period from both the landlord and tenant perspective. But there will be other issues we will all have to consider as we come out… Continue reading Looking to the future – dealing with lease related issues

commercial real estate · Malls · Retail leases · Shopping Center · Uncategorized

“… and the breakpoint shall be likewise abated…” – a thought about rent relief

We have seen the articles today, “Cheesecake Factory and Primark refuse to pay April rent.” Some of this is the media looking for clicks. The landlord-tenant relationship has always, out of necessity, been a symbiotic one. The economic environment at any given time may shift the “advantage” back and forth, but it really does go… Continue reading “… and the breakpoint shall be likewise abated…” – a thought about rent relief

Retail leases · Shopping Center · Uncategorized

Two encouraging lessons for commercial real estate from coronavirus

It has been rough for all of us to watch and experience what has been going on in retail over the past few weeks. I was encouraged last week when an International Council of Shopping Center’s friend from Shanghai relayed that retail was picking back up in his city. But, locally – nationally – here,… Continue reading Two encouraging lessons for commercial real estate from coronavirus

commercial real estate · Malls · Retail leases · Shopping Center · Uncategorized

“We see the retail business is getting busy again”

Not my typical lease administration post. Just sharing an email that I received this morning. Personally, when I have to do something I don’t want to. I tell myself, “There is nothing I can’t do for X amount of time.” X amount of time has always been a wide variable – in some cases, it… Continue reading “We see the retail business is getting busy again”

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Real estate tax timing in a purchase

A little more than a year ago, we addressed the timing/matching of real estate periods. Perhaps it was taxes reconciled for a calendar year, but taxes were paid on a fiscal year. Some landlord would take six months of one fiscal period and six months of another to match those fiscal periods to the calendar… Continue reading Real estate tax timing in a purchase

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Applying the K.I.S.S. method in leases

“Keep it simple, stupid!” That hits home so often as I am reading leases. I have taught classes for ICSC for nearly 25 years. One of my favorite example has been base rents or fixed CAM charges increased by the CPI. That in and of itself is pretty simple. But, you often see caps on… Continue reading Applying the K.I.S.S. method in leases

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Could this be worse than a Most Favored Nations clause?

We have addressed the Most Dreaded Lease Clause a few times over the past couple of years. We have also addressed another lease language concept – co-participation. But what happens when you combines the concepts? That combination was evident in an acquisition we were working on this week. If you have time, take a minute… Continue reading Could this be worse than a Most Favored Nations clause?

commercial real estate · Malls · Retail leases · Shopping Center · Uncategorized

The percentage rent unicorn revisited

A while back, we had addressed the “percentage rent unicorn” – that landlord dream within a dream (Hopefully, you are thinking The Princess Bride right now) – where landlords can bill percentage rent over a monthly breakpoint with no annual reconciliation. It is not something we see often, but when we do, it often leads… Continue reading The percentage rent unicorn revisited