Feature
August 28, 2013
Despite an uptick in the commercial real estate market, many owners are still trying to fill vacant space. There isn’t an endless supply of big-box tenants to fill large vacant space, so when previously reliable chains like Blockbuster and Circuit City began moving out of their spaces, many...
Drafting Tips
August 28, 2013
As a retail property owner, you’ve certainly spent time considering the tenant synergy—that is, stores functioning together to draw shoppers that a center normally wouldn’t capture without them as a group—that will maximize profits. That’s why the use clause in your...
Owner Loses
August 28, 2013
Facts: A large national retailer of arts and crafts materials and a shopping center owner signed a lease with an ongoing cotenancy provision requiring the owner to lease the anchor store in thecenter to a regional or national tenant meeting certain criteria. If the owner fails to maintain an anchor...
In the News
August 28, 2013
A controversial new program that will allow expanding and start-up companies to locate on or near college campuses and receive tax-free benefits for up to 10 years in New York has been the subject of debate among Empire State business owners, real estate brokers, and lawmakers.
Critics of Gov....
Feature
August 7, 2013
If you own a shopping center or office building long enough, an accident involving a shopper or visitor to the property will inevitably happen. Accidents can be a nightmare for owners: In the best-case scenario, you’ll have to deal with a situation that forces you to spend time consulting...
Plugging Loopholes
August 7, 2013
An owner is typically responsible for maintaining the common areas of its building or center, so if someone is injured in these areas, the owner is the party that will most likely have to pay for damages from an accident. If the accident was caused by a condition stemming from the actions of your...
Q & A
August 7, 2013
Q: A visitor to the mall I own was injured while taking part in a recreational activity held in the parking lot by a local charity group that also leases space there. The charity group provided the entertainment free of charge. I’ve heard about “recreational use immunity”...
Owner Loses
August 7, 2013
Facts: A shopper suffered severe neurological and brain injuries when two teenagers at the center where she was shopping with her son threw a shopping cart from the fourth level of the center onto her at the ground level. (As a result of the assault, the teenagers were sentenced to six months in a...
Dos & Don'ts
August 7, 2013
To maximize your property’s value and profit, limiting premises liability should be a priority for you—and you should communicate this to your property manager, who’s most likely to hear about and react to injuries before you do. To make sure your property manager understands the...
Dos & Don'ts
August 7, 2013
Despite protecting yourself from costly litigation by using an indemnification clause in your leases with tenants and reducing your exposure to personal injury lawsuits by properly maintaining your center or building, you may still be on the hook for an accident, unless you’re immune from...
