Feature
March 26, 2014
A letter of intent (LOI), also known as a “term sheet,” sets the stage for a lease. Signed by both the owner and tenant, the LOI indicates that both parties intend to go through with a lease, and includes terms that are fundamentally important to the tenant's operation, such as rent...
Q & A
March 26, 2014
Q: A nationally publicized violent incident at a Florida big box store has made me think once again about the level of security I need to keep my center safe for tenants and their customers and employees. Although this most recent retail violence—a customer attacked another customer for...
Q & A
March 26, 2014
Q: Tenants in my strip mall have assigned parking spots. Unfortunately, parking is very limited and, fairly often, those assigned spots are used by people who are not entitled to park there. My property has fielded numerous complaints about parking, including a threat from one tenant that it will...
Owner Wins
March 26, 2014
Facts: A coffee shop tenant signed a lease for space in a strip mall, and signed a personal guaranty, promising that he would be financially responsible if the lease were defaulted on. The tenant later sold the coffee shop. When the new coffee shop tenant stopped paying rent, the owner sought...
Owner Loses
March 26, 2014
Facts: After a flood damaged its store in a strip mall, a sporting goods tenant announced that it would be closing its store and moving out. The tenant informed the owner that it was no longer able to get and maintain adequate insurance as required by the lease. The tenant was also concerned that...
Owner Wins
March 26, 2014
Facts: The state health department forced a frozen yogurt shop tenant to suspend its operations until the waste water system for its space in a strip mall complied with state requirements. The tenant, who was unaware that its water system was inadequate, complained to the owner, who asserted that...
Online Alerts
March 26, 2014
Technology and media are benefitting Broadway in a big way, as Facebook expands its office space in Manhattan’s Midtown South neighborhood—exercising a lease option that will give it 60 percent more room to spread out.
The social networking firm initially leased 100,000 square feet of...
In the News
March 26, 2014
Technology and media are benefitting Broadway in a big way, as Facebook expands its office space in Manhattan’s Midtown South neighborhood—exercising a lease option that will give it 60 percent more room to spread out.
The social networking firm initially leased 100,000 square feet of...
Feature
February 26, 2014
By Nathaniel Hoffman, Esq.
Plugging Loopholes
February 26, 2014
Responsibility for mold-related damage in commercial and residential properties has become a hot-button issue in the past decade, as major storms like Hurricane Sandy have increased the potential for flooding and subsequent mold growth, and as tenants have become more aware of environmental issues...
