Online Alerts

Make 1031 Exchanges Work for You

March 1, 2017    

If you own commercial property and are contemplating branching out and acquiring more properties, you might not know where to start. A good jumping off point is understanding what type of leasing opportunities are available—and their interplay with the commercial real estate market now....

Reserve Ability to Unilaterally Change Tenant’s Number

March 1, 2017    

If a tenant wants you to specify the number of its unit, store, or suite in the lease, then say in the lease that the tenant’s unit, store, or suite is “presently known as [insert Unit/Store/Suite number, e.g., 4B]." The phrase “presently known as” will give...

Foreseeability of Tenant's Denied License Put Risk on Landlord

March 1, 2017    

Many businesses need certain types of licenses or need to meet certain legal requirements in order to operate. If those end up not being attainable, it renders their space unusable in some cases. And that could mean that you’ll have to deal with a tenant that’s trying to get out of...

Draft Broad Default Definition for Your Leases

February 2, 2017    

Every lease gives an owner certain remedies, such as eviction or the collection of damages, that the owner can use if something the tenant does or fails to do fits the lease’s definition of an “event of default.” But what if your lease doesn’t clearly define what acts or...

Owners Not Out of the Woods Yet for Ice Cleanup

February 2, 2017    

Spring is approaching, but owners should still stay on top of ice removal responsibilities in common areas of commercial properties. It’s important to spell out who’s responsible for ice removal in front of tenant’s stores—you or the tenant. You might wonder whether if...

Don’t Let Recaptured Space Dig into Your Profits

February 2, 2017    

Many owners negotiate a recapture right in their leases that they can exercise if a tenant intends to assign its lease or sublet all or part of its space. And this could include a profit-sharing clause that will require the tenant to pay all or part of any profit it makes from an assignment or a...

How to Get Prepared for Tenant’s Early Departure

January 5, 2017    

The ability to turn a profit by selling products online has in recent years drastically reduced some business’s need for physical space, but commercial real estate leases tend to have terms that span several years, and sometimes decades, so a tenant could’ve signed a 20-year lease at...

Don’t Foot Bill Alone for Beneficial Off-Site Improvements

January 5, 2017    

If, like many shopping center owners, you provide off-site traffic improvements for your tenants, you should make sure that you’re compensated for that. After all, these improvements—for example, special signage and lighting in areas leading to the property or a way to control the...

Give Tenant Realistic Time to Comply with Lease

January 5, 2017    

If a tenant isn’t in compliance with its lease terms because it’s waiting for certain items or obligations that take time, don’t automatically jump to a lawsuit. The cure period you’ve allowed the tenant to become compliant might not be realistic if the requirements it...

How to Set a Lease Commencement Date

December 1, 2016    

Setting a workable commencement date for a lease to begin is one of the most important aspects of lease negotiations. But it often isn’t thought through by either owners or tenants. As with many overlooked parts of a lease deal, it takes a back seat to big ticket items like cotenancy...

Landlord Wasn't in Joint Venture with Tenant for Liability Purposes

December 1, 2016    

Occasionally, a CRE landlord will choose to be in a joint venture with a tenant, but it’s not typical. Unfortunately, under certain circumstances, someone could try to argue that you are in a joint venture in order to hold you liable for an event or accident. So consider whether you’...

Is Your CRE Property Attractive for Marijuana Dispensary Tenants?

December 1, 2016    

Pennsylvania commercial real estate owners and tenants are both about to the feel the impact of the Keystone State’s recent decision to legalize medical marijuana. That’s because dispensaries will be looking for space in shopping centers, which could be lucrative for owners whose...