Q & A
November 19, 2012
Q: I’ve allowed relatively strong tenants in my shopping center to give me a letter of credit for their security deposits. Now, a small tenant is asking for the same arrangement. The products the tenant sells would be important for synergy at the center, but I’d like to protect myself...
Dos & Don'ts
November 19, 2012
Before you rent space to a labor union tenant, make sure that you’re willing to agree to lease requirements that are unique to that type of tenant. Here are examples of what to expect during lease negotiations:
Dos & Don'ts
November 19, 2012
If a prospective tenant asks to rent space in your center beginning on a day past the first of the month, you should prorate the rent for the remainder of the month. Spell this out in the lease carefully. Otherwise, you and the tenant could end up in a dispute over which calculation method to use....
Owner Loses
November 19, 2012
Facts: A restaurant tenant rented space in a strip center. The entire property was 82,875 square feet. The “buildingfootprint” and the total leasable area was 21,415 square feet. The restaurant tenant leased 6,281 square feet of the property. In addition to base rent, the tenant was to...
Owner Wins
November 19, 2012
Facts: A restaurant tenant’s employee required surgery for a broken wrist that he suffered in a slip-and-fall accident on a spiral staircase, used to access the employee locker room. The employee claimed that the staircase was greasy, and that the steps were worn smooth. He sued the owner for...
Owner Wins
November 19, 2012
Facts: A shopping center tenant rented space to operate a nightclub. There was an unfinished office building across the street from the center, which the center’s owner told the tenant would be completed the following year. When the office building hadn’t been finished by then, the...
Feature
October 19, 2012
Generally, commercial property owners provide cleaning services to tenants. They typically hire and use a cleaning contractor that they choose. However, specialty tenants sometimes ask that they be allowed to hire their own, separate cleaning contractor. Tenants that have confidential information,...
Dos & Don'ts
October 19, 2012
Under certain circumstances, you could get stuck with a big bill for a brokerage commission or transfer taxes if your tenant assigns its lease or sublets its space. For example, you may have a listing agreement with a broker that entitles it to a commission for any transaction involving your...
Dos & Don'ts
October 19, 2012
If your lease with a tenant that’s making improvements or doing other construction in its space requires the tenant to give you documents—a certificate of occupancy from your local government, contractor affidavits, or lien waivers—to prove that the work was done properly, you...
Q & A
October 19, 2012
Q: The leases I signed with several tenants at my shopping center didn’t mention online sales in the gross sales exclusion provisions in the lease. I recently started mentioning online sales in my leases, but I think that other, new types of sales may arrive in the future. How can I address...
