Owner Wins
April 30, 2014
Facts: A tenant signed a lease for space for its restaurant. At the time the lease was signed, the owner was in the process of gutting and remodeling the premises, including installing an elevator. To install the elevator, the owner was required to draw up architectural plans, obtain permits,...
Owner Wins
April 30, 2014
Facts: A guarantor promised to fulfill the lease obligations of a restaurant tenant if the tenant breached the lease. It signed a “good guy” unconditional guaranty. The tenant stopped paying rent because it claimed its sales had declined because scaffolding built in front of its space...
Owner Loses
April 30, 2014
Facts: A tenant rented space to operate its dental practice. After the building was bought by a new owner that intended to turn the building into a hotel, the tenant received a notice of cancellation. The lease gave the owner the right to cancel the lease if it intends to apply for a permit to...
In the News
April 30, 2014
A new U.S. real estate forecast based on a survey of 39 of the industry’s leading economists and analysts shows that commercial property transactions are expected to rise over the next two years to levels not seen since before the recession—exceeding the volumes hit in 2006. The annual...
Online Alerts
April 30, 2014
A new U.S. real estate forecast based on a survey of 39 of the industry’s leading economists and analysts shows that commercial property transactions are expected to rise over the next two years to levels not seen since before the recession—exceeding the volumes hit in 2006. The annual...
Feature
April 10, 2014
In some cases, either you or the tenant—or both parties—will want to end the tenant’s lease early. This isn’t necessarily a bad thing. The tenant may be having a hard time making ends meet and want to downsize, relocate to cheaper space, or go out of business, giving you the...
Plugging Loopholes
April 10, 2014
In the excitement and administrative hustle and bustle of redeveloping their centers, some owners discover they’ve overlooked one very important aspect of the redevelopment—namely, making sure that the overall look of the updated center isn’t interfered with by tenants. To require...
Q & A
April 10, 2014
Q: A tenant’s lease for space at the center I own gives it the option to renew after three years at the same rate plus applicable taxes. To decide whether to exercise the option, the tenant says it needs to know the amount of taxes it’ll be required to pay. I’m wary of sharing...
Drafting Tips
April 10, 2014
It’s common for a lease to give an owner a share of any profit a tenant makes if it sublets or assigns its lease. But if you don’t specify this in your lease with the tenant you’ll miss out on this opportunity. And even if you do specify this in the lease, you still need to stay...
In the News
April 10, 2014
Lawmakers in California and New York are drawing attention to the Terrorism Risk Insurance Act (TRIA), which was enacted in 2002 because the private insurance marketplace was failing to provide adequate terrorism insurance coverage following the events of 9/11.
Passage of TRIA stabilized the...
