Owner Wins
December 27, 2023
What Happened: The COVID-19 pandemic forced the owner of an iconic cinema in Minneapolis to shut down and default on its lease with six years left in the term. The landlord sued for liquidated damages of $1.8 million, including $364,212 in unpaid rent and $1,444,258 representing the present value...
Feature
November 28, 2023
But set clear limits.
Prospective tenants who aren’t fully financed might be reluctant to sign a lease unless and until they know they’ll be able to secure an operating loan. If they can’t get the loan they need, they’ll want the right to terminate the...
Drafting Tips
November 28, 2023
Don’t get boxed in by implied use restrictions.
Pop Quiz
November 28, 2023
Just about every lease includes a provision specifying the methods landlords and tenants must use to provide notice to each other. Deviations from notice requirements are a common source of litigation, especially when notice is required to exercise a purchase, renewal, or other lease option. We...
Owner Wins
November 28, 2023
What Happened: Eighteen months after signing a five-year lease, a rug store went into liquidation, stopped paying rent, and abandoned the premises. The landlord then divided the space into two separate units, leasing one to another rug store and the other to a bath floor décor shop.
Owner Wins
November 28, 2023
What Happened: A tenant leased property on a pair of shopping center outlots to operate restaurants. The ground lease required the tenant to pay a pro-rata share of the CAM costs the landlord incurred to keep the common areas in good repair. The landlord sold the property to a new owner who...
Owner Loses
November 28, 2023
What Happened: A studio owner entered into a “License Agreement” giving a production company “the exclusive,” but “non-possessory” right to use the property. The production company defaulted on its rent payment and the owner brought an “unlawful detainer...
Feature
October 24, 2023
Letting tenants post their own pylon signs may put your center’s liability and reputation at risk.
Drafting Tips
October 24, 2023
If tenants don’t have to pay fees, they’re more apt to flood you with requests.
Traps to Avoid
October 24, 2023
Not stating the specifics is likely to lead to two results, both of them negative.
