Landlords and their lenders need to rethink their position on payment of construction allowances. The rental structure of a lease is based in part on the amount of the allowance. If a tenant receives no allowance, the lease would undoubtedly provide for a lower rent payment. A portion of the rent is repayment of the allowance
What Is In; What Is Out: One Lawyer’s Perspective
It is the time of the year to reflect on what happened this past year. What is trending? What did we do right? What did we do wrong? What can we expect next year?
Tweeting is in. Now the challenge is to figure out a way to monetize it as opposed to just joking with my kids.
Top 10 Reasons to go to ICSC Law Conference
The ICSC Law Conference is being held this week in Phoenix. It alternates from the West to the East each year – this year it’s out West. It is a great conference for any attorney practicing in the retail real estate industry. Here are the top 10 reasons for attending:
10. There is a seminar on
My Technology Wish List
Technology has revolutionized our practice. Faxes used to be the greatest thing ever, and we have moved way past faxes in the last 10 years. Technology will continue to evolve. My wish list:
1. Phones as we know them are eliminated. All phone calls will be video calls over the computer, screen to screen
Taking Advantage Can Be Disadvantage
A recent off hand statement by a Landlord’s attorney got me thinking. I was representing a national retailer in a lease negotiation. We got to an issue that sophisticated landlords typically ask for and most retailers typically concede. Our client, however, does not typically concede the issue. The issue has unique meaning for our client because
Grocery Store Anchored Strip Centers
A recent article in REJournals.com noted that the grocery store anchored strip center remains a strong performing retail category. In all geographic markets, there is an over abundance of retail space. There are several reasons for the excess space:
1) Developers overbuilt with the availability of easy financing.
2) The economy has forced
Another Reason To Consider a Flat Tax
Landlord’s have gone to fixed CAM to reduce administrative expenses and disputes with their tenants. The government could accomplish the same by going to a flat tax – no need for complicated tax regulations that create unintended consequences; no need for intrusive audits where the government is at odds with its constituents; in fact maybe
Retail Trends We See
Toys R Us is leasing a large number of sites on a temporary basis: smaller stores and only for the Christmas season. Temporary leasing might be a trend to capitalize on, especially where you have vacant space in a decent geographic market. And if you can combine it with a different, complimentary seasonal concept (ice cream
Audit Those Leases
The typical co-tenancy clause provides that if occupancy at a shopping center falls below a certain level and/or certain other key tenants close, the tenant gets rent relief and at some point the right to terminate its lease. In the current retail environment, all sophisticated tenants demand some sort of co-tenancy protection. Landlords have generally
Don’t Be Anyone’s Lunch !
I often think of an African proverb shared by Kip Reader, Managing Partner of Ulmer & Berne:
Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a lion wakes up. It knows it must outrun the slowest gazelle or it