I was recently in the offices of the FBI Cincinnati Division attending the FBI Citizens’ Academy program, and it made me think about a leasing opportunity (in addition to thinking about what an awesome job our FBI really does and how dedicated and effective are our FBI professionals). The recent economy has resulted in higher vacancies
Almost all new build shopping centers are mixed use – they include some combination of office and residential in addition to the retail space. Elizabeth Hamilton, in house Real Estate Counsel at Office Depot, recently reminded me of the special problem this presents in allocating CAM, taxes and insurance. Some portion of each must be
Everyone is talking about Alternative Fee Arrangements (AFAs). Some clients are demanding it; some firms market themselves as special because they will consider it; some attorneys are frankly scared of it because they think all it means is that they will be required to discount their fees.
In reality, an AFA is nothing more
An interesting situation has come up several times just recently (these issues come in droves – after never confronting the issue for a really long time, all of a sudden you get the same issue coming up again and again):
Recently, David Birdsall, Chief Development Officer for Phillips Edison, spoke to a group of real estate industry executives about the state of the retail industry and its impact on retail real estate. Dave believes we are at the dawn of a new/old retail era. Dave showed how the internet is changing how consumers shop and will
So by now you’ve been to at least three conferences which tell you the economy has hit the bottom, it’s a U curve, 2010 will still be slow with savings and not consumption being the key characteristic, 2011 is a comeback year, but real estate will never get back to the boom boom days of
The following clause was in a first draft of a lease I recently reviewed for a client in the boilerplate provisions at the end under the heading “Mediation.” It is reproduced here verbatim (not kidding):
“If a dispute arises out of or relates to this Lease, or the breach thereof, and if the dispute cannot
When representing a tenant, I always want an SNDA so that if the landlord defaults on its mortgage my client is assured that it can remain in the space as long as there are no tenant defaults.
When representing a landlord, it is becoming increasingly more difficult to get lenders to make any change
A tenant always prefers an SNDA so that if the landlord’s lender forecloses, the lender will have to respect the tenant’s lease. But if the landlord files bankruptcy, or if the lender causes the landlord to file bankruptcy, the landlord can reject the tenant’s lease anyway thereby subjecting the tenant to the very risk it
The Stimulus Plan is supposed to create jobs. In the retail sector, jobs will be created only if consumers start spending again. Some of you may remember the eighties when consumers were able to deduct credit card interest from taxable income. With the need to motivate consumers to spend, reinstituting this kind of tax credit