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

Unique remedy language in the event of a violation

The majority of national and regional tenant leases contain some sort of tenant-negotiated restriction. It may be an exclusive use, or a specific prohibited use in the center (no educational facilities), or a site line restriction, or a restriction against a type of use within x feet of the premises (no food uses within 200’… Continue reading Unique remedy language in the event of a violation

Malls · Retail leases · Shopping Center · Uncategorized

A few more issues related to excluded area contributions

Last week we addressed a few of the issues to consider related to excluded area contributions, but two properties that we worked on this week made me realize I missed discussing two very significant issues – refunds/credits and recaptures as they relate to excluded area tenants. At one of the properties, an excluded area tenant… Continue reading A few more issues related to excluded area contributions

Malls · Shopping Center · Uncategorized

Dealing with new realities in “retail” rents

Back in 1996, I was serving as an expert witness in a mediation related to HVAC billing methodologies in regional malls. The tenant brought in their own expert witness to address water rates. Over the course of two days, the two of us had plenty of time to talk. At that time, in most municipalities,… Continue reading Dealing with new realities in “retail” rents

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

Prior defaults

This past week, we worked on a 40 tenant open air center acquisition. Often times, a seller severely restricts the information provided to our clients, the buyers. Fortunately, this time, we had almost free access to the seller’s files. Many of the leases were leases that had been amended and extended 3,4,5 times since their… Continue reading Prior defaults