Equitably written, gross sales and percentage (overage) rent clauses play an important part in the administration of a retail lease. Negotiating clear rent clauses assists both the landlord and retailer achieve a working knowledge of retail...
Leases often provide that a landlord has agreed to give a tenant an improvement allowance (Allowance) for enhancements to be made to the leased premises. However, because leases often fail to describe who owns those improvements to be paid for by...
There are a variety of net leases, one of which is a double net lease. The double net lease is a lease in which the tenant is responsible for the majority of all expenses, excluding roof and structure, while the landlord may be responsible for...
An operating covenant is an agreement by the tenant to continuously operate its store for a set number of months or years and for a designated number of hours and days each week. Such covenants frequently appear in leases containing a percentage...
Over the past decade, shopping center owners have viewed management fees as an important new source of CAM revenue. Although management fees can quickly raise millions of dollars, this solution to a landlord's cost problems may end up to be too...
Retail leases usually contain provisions addressing the responsibility for maintenance and repair of the leased premises or shopping center. Two areas that can give rise to lease- language-interpretation problems are replacement and structural...
One of the most critical provisions of a shopping center lease is the use clause. What the tenant may sell or operate in its premises not only affects the tenant but also impacts the tenant mix of the center and the landlord's future leasing plans...
With the construction of "big boxes" proliferating at an ever-increasing pace, it seems appropriate to address a number of the issues that landlords and tenants face with respect to development of such big boxes...
