Tag: ICSC

Uncategorized

Administering CAM, Tax and Insurance – How viewing a site plan or lease plan without preconceived notions can improve your reimbursement ratios

Jack NugentLeave a comment

As a landlord, we talk about triple net all of the time. Often, our goal is to have our net cash flow be as close as possible to total minimum rent as possible. In order to do that, we want to get as close to 100% recoveries on reimbursable expenses – CAM, tax and insurance… Continue reading Administering CAM, Tax and Insurance – How viewing a site plan or lease plan without preconceived notions can improve your reimbursement ratios

Uncategorized

One parcel – multiple assessments? Understanding component assessments can mean $510k in value on this example property.

Jack NugentLeave a comment

In commercial leases, especially retail leases, it is common to see that tenants can, or should, be billed based upon the square footage of the property excluding portions of the property that are separately assessed. Sounds pretty simple and straightforward, doesn’t it? But in that one sentence, there can be dozens of variations on the… Continue reading One parcel – multiple assessments? Understanding component assessments can mean $510k in value on this example property.

commercial real estate · Malls · Retail leases · Shopping Center

Deductions and exclusions from reported gross sales

Jack NugentLeave a comment

ICSC published a brief summary of a handful of timely legal issues discussed during its 50th U.S. Law Conference. Among the topics were a few percentage rent concerns. They are all relevant in the current environment and worthy of addressing the “whys” of the topics and expanding on them a bit. Before hitting those issues,… Continue reading Deductions and exclusions from reported gross sales

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

Property Management Systems Can’t Handle This Clause – And if you have them, they will be critical for 2020

Jack Nugent1 Comment

We have been seeing a clause for years that is both brilliant and fair to both landlords and tenants – a CAM cap carryforward. The concept is fairly simple. You calculate and apply a cap as required by the lease. However, if there is any excess CAM that the landlord could not bill and collect… Continue reading Property Management Systems Can’t Handle This Clause – And if you have them, they will be critical for 2020

Uncategorized

The throwaway lease clause that cost more than $10m in value

Jack NugentLeave a comment

You may be thinking this is clickbait. It’s not. This past week, we had a truly “throwaway” lease clause that had cost the owner more than $10m in value on the property. Not one clause in every lease at the property, but one clause in one lease. The clause – “The tenant may offset percentage… Continue reading The throwaway lease clause that cost more than $10m in value

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

Looking to the future – dealing with lease related issues

Jack NugentLeave a comment

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

Jack NugentLeave a comment

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