Tag: Shopping Center

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

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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

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

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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.

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

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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

Real estate tax timing in a purchase

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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 · Retail leases · Shopping Center · Uncategorized

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

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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

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

Bring back my favorite retail real estate memory of the 70s!

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I was born in 1965. As much as I loved Space Port (an arcade) at Oxford Valley Mall and the wall of history dioramas at Neshaminy Mall (which I understand are still on display), I did not discover my favorite thing about 1970s retail real estate until I started reading department store leases and shopping… Continue reading Bring back my favorite retail real estate memory of the 70s!

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

An approach to lease administration and due diligence

Jack Nugent2 Comments

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