When a tenant violates a lease that subsequently ends in termination, shopping center and office building owners might be looking at hefty costs that at least initially will fall on them. Lost rent and the cost and effort of finding a replacement tenant can reach into the tens of thousands of...
Over a million restaurants in the United States generate billions in sales each year. Commercial property owners know that having a visible and successful restaurant is not only lucrative, but also can be an amenity that improves the image of the property and provides an essential service to...
Don’t be surprised if a prospective tenant asks you to give it early access to its space before all aspects of your deal are finalized. Some tenants are confident that their financing will go through and that other issues will be resolved without incident. A common reason in retail leasing...
Violating the Americans with Disabilities Act (ADA) can be costly for commercial real estate owners. It’s a complicated law with nuances that create pitfalls for owners. While the ADA is detailed in terms of spelling out under what circumstances a building’s or a tenant’s space...
The design, practicality, and price of interior retail space are big ticket items when a tenant is deciding to lease space in a shopping center. But what a tenant can get and for what price doesn’t matter if other elements at the center don’t work for the tenant. Just as landlords...
The number of violent crimes taking place at public venues in recent years has skyrocketed, with the Oct. 1 mass shooting of concert-goers in Las Vegas being the biggest attack in United States history. Owners of public spaces are reevaluating their security, some by asking outside security...
When you think about settling a dispute with a tenant without going to court, arbitration as an alternate dispute resolution method might immediately come to mind. That’s because arbitration is widely known and talked about in commercial real estate. But before you pursue arbitration,...
Owning a large retail or office building property can be lucrative. After all, if the rent rate is based on the square footage that a tenant rents, a vast space has the potential to pull in more money than a small one. But profiting from the sheer size of your property isn’t a given. To...
Mixed-use properties have become ubiquitous in most areas of the country. Often, they make the most of a property’s layout, especially in tight urban neighborhoods—providing easy-to-access commercial space on a first floor and residential units on the floors above so no space is...
The goal when leasing to tenants at your center—and especially those that pay percentage rent—is to pick businesses that draw the most customers. If a product or service is a “favorite” of a customer, there’ll be repeat business. For this reason, leases with...
With the failure rate of new restaurants hovering around 59 percent in the first three years of opening, it’s not surprising that restaurant owners are trying to come up with a hook—a theme, a specific type of ambiance, or discounts for certain groups or time periods in the day or...
At first, a guaranty from a tenant that you’re unsure about seems like a great safety net. Another party will take over the tenant’s lease obligations if it fails to do so itself, so you won’t be left on the hook trying to mitigate the financial or other damage. In isolation, a...
