Real Estate Advisor Law Blog

Real Estate Advisor Law Blog

Tag Archives: Retail Industry Issues

Vacant Big Box Retail Stores

Posted in Mixed Use Development Issues, Retail Industry Issues
The current economic downturn and the contraction of the retail sector have resulted in an increasing number of vacant “big box” retail stores in shopping centers across the country. A “big box” is a freestanding building occupied by a single retail tenant that contains between 20,000 to 200,000 square feet of space and is surrounded… Continue Reading

Supreme Court Rules Beach Additions Not Compensable Takings

Posted in Environmental Issues, General Legal Issues, Litigation Issues, Retail Industry Issues
Truckloads of sand will begin cascading across hurricane-battered beaches along the Destin and Walton County shorelines, thanks to a recent 8-0 decision by the Supreme Court. Coastal homeowners originally sued Florida arguing that the Beach Erosion Control Program (BECP) would cause the value of their homes to decline, turning their “oceanfront” property into “ocean view”… Continue Reading

Well Done Kayla !!!

Posted in Retail Industry Issues
Congratulations to Kayla Ashley daughter of Jennette Ashley, one of our real estate paralegals, for the recognition of her work on behalf of the Ronald McDonald House near Cincinnati Children’s Hospital. The local Fox TV affiliate Channel 19 recognized Kayla’s volunteer work during their Pass the Cash spot.  Click on the link to watch. This… Continue Reading

Audit Those Leases

Posted in Finance Issues, Leasing Issues, Retail Industry Issues
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… Continue Reading

HOUSING PRICES MAY NOT HAVE BOTTOMED OUT JUST YET

Posted in Retail Industry Issues
Since early 2009, Housing prices have stabilized and valuations and affordability of homes have improved. This stabilization is primarily attributed to government housing policies, such as the home buyer tax credit, the federal government’s purchase of mortgage-based securities, and temporary mortgage modifications through the Home Affordable Mortgage Program. However, many economists believe that the housing… Continue Reading

Mixed Use Centers – How Do You Allocate CAM?

Posted in Leasing Issues, Mixed Use Development Issues, Retail Industry Issues
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 allocated to… Continue Reading

MORE SNDA THOUGHTS….

Posted in Leasing Issues, Retail Industry Issues
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): Tenant relocates to new space in the same center;  Landlord and Tenant amend existing lease… Continue Reading

We Are All Our Brother & Sister’s Keeper (Lessons of Right & Wrong)

Posted in Ethical Issues, General Business Issues, Retail Industry Issues
Our good friend, Abe Schear, Chairman of the Leasing Practice Group at Arnall Golden Gregory in Atlanta, pens a newsletter called Baseball Digest(able).    Abe’s January issue is a powerful piece of insightful writing which merits all of our attention.   Since many of the deals in the real estate industry occur as a result… Continue Reading

KELO REVISITED

Posted in Development, Development Issues, Legislative Update, Retail Industry Issues
  In 2005 the United States Supreme Court in Kelo v. City of New London upheld the actions of the City of New London, Connecticut (the “City”) in forming a non-profit corporation to redevelop the Fort Trumbull area of the City. In order to capitalize on Pfizer, Inc.’s (“Pfizer”) private development of an adjacent research facility,… Continue Reading

New “Green” Landscape Ratings Established

Posted in Construction Related Issues, Development, Environmental Issues, Retail Industry Issues
The Leadership in Energy and Environmental Design (LEED) certification by the U.S. Green Building Council is a certification program for the design, construction and operation of commercial and residential “green” buildings. Although the LEED certification program includes a neighborhood design component, one area not specifically addressed by LEED is landscape design. In an effort to establish a… Continue Reading

Retail Developer, Investor, Lender and Retailer Must Read

Posted in Finance Issues, Leasing Issues, Retail Industry Issues
In October, 2009 Morgan Stanley published its Mall and Lifestyle Center Handbook.  (Special thanks to Stephen Baumgarten, Senior Vice President Wealth Advisor Morgan Stanley Smith Barney Beachwood, Ohio for sharing the handbook with us).  The handbook is a must read for all retail developers, lenders, investors and retailers to understand the market forces impacting shopping center development and investment.   The… Continue Reading

Chinese Drywall Has Damaged Their Homes and Health, Some U.S. Homeowners Claim, but Can They Make the Chinese Manufacturers Pay?

Posted in Construction Related Issues, Environmental Issues, Legislative Update, Retail Industry Issues
We have been following the continuing saga of the homeowners affected by Chinese drywall used mainly throughout Florida, Louisiana and Virginia when U.S. supplies ran low. According to affected homeowners, the Chinese drywall emits a gas that causes health problems such as headaches and nosebleeds, erodes metal and electrical fixtures, and leaves a foul rotten egg… Continue Reading
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