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

John T Riordan School for Retail Real Estate Professionals

If you have followed this lease administration blog for the past couple of years, or even if you have just stumbled upon it because of a question you have had related to some lease related term, you are the type of person that would absolutely benefit from ICSC’s John T Riordan School for Retail Real… Continue reading John T Riordan School for Retail Real Estate Professionals

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

Premises trash and utilities vs. common area trash and utilities

It is not uncommon for a landlord to provide or arrange services for the actual tenant premises within a shopping center. Perhaps the tenants are provided water services to their spaces through one water main/meter, or the landlord arranges for trash removal from the premises rather than having each individual tenant arrange the service themselves.… Continue reading Premises trash and utilities vs. common area trash and utilities

commercial real estate · Malls · Retail leases · Uncategorized

Extending a lease term – by exercise of option or amendment

Exercising an option that was granted in a lease with no change in terms should be a fairly simple exercise as specifically defined in the lease – often sending notice to the landlord on the intent to exercise with no additional action required by any party. The lease continues. However, sometimes the parties overcomplicate the… Continue reading Extending a lease term – by exercise of option or amendment

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

Taxes and insurance addressed in CAM – and then again, separately

It’s not unusual to see terms referenced several times throughout a lease. Often, it will be a definition of a concept in one clause and the use of that defined term in another. But, sometimes, it can be confusing as to why a term is mentioned multiple times. Case in point is when insurance or… Continue reading Taxes and insurance addressed in CAM – and then again, separately

Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

An approach to lease administration and due diligence

When we are verifying rents at a property, we do all of our calculations – prorata shares, caps, breakpoints, CPI calculations, lease year language applications and so on – prior to looking at what the current landlord has done. I don’t know about you, but I can be fairly easily led by what someone else… Continue reading An approach to lease administration and due diligence