Feature

Maximize Options for Collecting Rent from Large Space

August 24, 2017    
Owning a large retail or office building property can be lucrative. After all, if the rent rate is based on the square footage that a tenant rents, a vast space has the potential to pull in more money than a small one. But profiting from the sheer size of your property isn’t a given. To...
Negotiating Tips

Carve Out Right to Future Financially Viable Rent Rate

August 24, 2017    
In order to entice a tenant you might offer very competitive initial rent. At the same time, you need to make sure that you maintain a certain level of income over time. Rent adjustments are typically a part of negotiations with a prospective tenant for space at the property you own. But if you...
Plugging Loopholes

Add Three Protections to Lease with High Electricity Consumption Tenant

August 24, 2017    
Tenants who have a high electricity consumption can pose problems that you might not have considered when negotiating your leases. And a tenant that uses a typical amount of electricity now could need more later, or sublet or assign its lease to a high-power tenant. So, the message should be in...
Owner Loses

Tenant Not Bound by Covenant of Good Faith and Fair Dealing

August 24, 2017    
Facts: A shopping center owner decided to construct a new set of buildings within the shopping center grounds, which would house tenants that would be beneficial to its anchor store, a national clothing retailer. The retailer’s lease contains a clause that requires the owner to get the...
Feature

Protect Interests When Leasing Mixed-Use Space

August 8, 2017    
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...
Feature

Protect Your Interests When Leasing to Franchise Tenant

July 21, 2017    
The goal when leasing to tenants at your center—and especially those that pay percentage rent—is to pick businesses that draw the most customers. If a product or service is a “favorite” of a customer, there’ll be repeat business. For this reason, leases with nationally...
Negotiating Tips

Include Six Requirements in Lease with Limited Liability Tenant

July 21, 2017    
Not all tenants are created equal when it comes to the way they are organized. That is, whether a tenant is a professional corporation, professional limited liability partnership, or professional limited liability company matters during lease negotiations, and it should guide the guaranty...
Owner Loses

Tenant's Use of Cooking Equipment Permitted by Lease

July 21, 2017    
Facts: A sushi restaurant began operating in the basement space of a mixed-use brownstone building that included other commercial space and some apartments. It became apparent that cooking odors were wafting into the first-floor commercial space, which was vacant but being shown to prospective...
Dos & Don'ts

Don't Lease to Tenants 'Off Brand' from Synergy

July 21, 2017    
Although the model of the traditional shopping mall—one or more big box or anchor stores as a destination and smaller in-line tenants that benefit from the foot traffic—has changed over the years, the concept of a synergistic relationship among tenants continues. Convenience is key and...
Dos & Don'ts

Design Crowd Control Strategy for Holiday Season

July 21, 2017    
With the start of the holiday season coming up, kicked off by Halloween and ending after Christmas, you should start to prepare for the inevitable increase in foot traffic at your shopping center. You can do this by addressing two issues: traffic and time.