Tag: lease administration

Malls · Retail leases · Shopping Center · Uncategorized

Retail evolution and the need for lease language changes

Jack NugentLeave a comment

Experiential retail. Bricks and mortar stores as distribution points. Online sales returns. Showrooming. We are continuously bombarded with articles about the death of retail, the evolution of retail, stores closures, the death of retail being exaggerated, announced stores closings, announced store openings. While there seems to be little agreement about the future of retail, there… Continue reading Retail evolution and the need for lease language changes

Malls · Retail leases · Shopping Center · Uncategorized

The most dreaded lease clause – Most Favored Nations

Jack Nugent4 Comments

This week, I was working on an office acquisition and came across a clause I had never seen applied in office before – a most favored nations clause. The clause essentially read: Notwithstanding anything in the lease to the contrary, no other tenant in the Property shall have a more favorable rental rate (which was… Continue reading The most dreaded lease clause – Most Favored Nations

Malls · Retail leases · Shopping Center · Uncategorized

Extracting value from an exclusive

Jack NugentLeave a comment

There is no question that a tenant benefits from being granted an exclusive use in a shopping center. More often than not, an exclusive ensure that no other tenant in the shopping center shall have the same use as tenant granted the exclsuive. (Occasionally, an exclusive shall read something to the effect of “There shall… Continue reading Extracting value from an exclusive

Retail leases

Spot the difference! – Enclosed mall vs. open air center leases

Jack NugentLeave a comment

A few weeks ago, we addressed the major differences between retail and office leases. While retail leases across categories have more similarities than differences, there are distinctions between retail leases in enclosed centers and retail leases in open air centers. Some may be obvious – there are no enclosed malls to heat and cool in… Continue reading Spot the difference! – Enclosed mall vs. open air center leases

Malls · Retail leases · Shopping Center · Uncategorized

Why should you care about the definition of the “Shopping Center” in the lease?

Jack NugentLeave a comment

This past week, we were working on a sizable shopping center acquisition in the Southeast. Part of the center had been a mall that was “de-malled,” while the balance was developed in two additional phases. The original mall became a series of big boxes, some traditional small shop retail, a few restaurants and a bit… Continue reading Why should you care about the definition of the “Shopping Center” in the lease?