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With the start of the holiday season coming up, kicked off by Halloween and ending after Christmas, it's wise for you to design a crowd control strategy for the holiday season at your shopping center. Here’s a plan that you can implement:
Mixed-use properties have become ubiquitous in most areas of the country. Often, they make the most of a property’s layout, especially in tight urban neighborhoods—providing easy-to-access commercial space on a first floor and residential units on the floors above so no space is wasted. And if leases are drafted that protect landlords from both typical lease issues as well as some limited mixed-use-specific angles, they can be financially advantageous. But t...
Q: I’ve negotiated percentage rent provisions in my leases with several of my retail tenants at the shopping center I own. I’m relying on these tenants to give me correct gross sales figures so that I can get the percentage rent that I’m owed, and can gauge how well the tenants’ businesses are doing. I’ve heard of scenarios where a dishonest tenant may try to undercut the owner’s p...
With the failure rate of new restaurants hovering around 59 percent in the first three years of opening, it’s not surprising that restaurant owners are trying to come up with a hook—a theme, a specific type of ambiance, or discounts for certain groups or time periods in the day or evening. A trend that has gained so much momentum that it’s no longer a novel concept—and is somewhat expected in “cute” or bustling neighborhoods—is ...
Sometimes a lawsuit stems from someone being injured in your tenant’s space. Savvy shopping center and office building owners know that they can protect themselves by requiring the tenant to name them as an “additional insured” on their liability insurance policies. But if your lease requires only that the party identified in the lease as the “Landlord” be named in the tenant’s policy as an additional insured it won’t give insur...
Occasionally, a tenant will want or need to leave its space that it rents in your shopping center or office building. But that can create a financial burden for you. Even if it’s the tenant’s responsibility under the lease to mitigate the damage caused by breaking its lease, it could still be a hassle for you. But don’t give in to a proposed deal from the tenant that’s less than you’re owed! You don’t have to take a worse deal than th...
At first, a guaranty from a tenant that you’re unsure about seems like a great safety net. Another party will take over the tenant’s lease obligations if it fails to do so itself, so you won’t be left on the hook trying to mitigate the financial or other damage. In isolation, a guaranty with no limits can work well. But you’re likely to find tenants and their guarantors demanding certain limits on guaranties. There are several common limits they ...
Q: Although I’ve had a good relationship with a tenant at the shopping center I own, I’m reluctant to overlook its failure to exercise its option to renew in a timely manner. The tenant has been pressuring me by saying that it will be incredibly inconvenient and expensive for it to find space elsewhere. Am I required to extend its lease based on its hardship in having to move?
If you’ve negotiated percentage rent provisions in your leases with several of your retail tenants at the shopping center you own, you’re probably relying on these tenants to give you correct gross sales figures so that you can get the percentage rent that you’re owed, and can gauge how well the tenants’ businesses are doing. But there have been scenarios where a dishonest tenant may try to undercut the owner’s percentage rent by lowering i...
On June 6, Commercial Lease Law Insiderreceived the Second Place Award for Best Business Newsletter, presented by the Specialized Information Publisher’s Association (SIPA) at its annual conference in Washington, D.C.
The judges based their decisions on 2016 issues in which editor Elizabeth Purcell explained: