A 2014 Commercial Real Estate Outlook Survey conducted by tax advisory firm KPMG shows that secondary markets are proving to be a first choice for many commercial real estate executives as the economy continues to pick up. CRE investors are looking to develop assets and deploy capital in...
Operating costs are one of the main cost concerns for both retail and office building tenants. So they’re one of the first things on a tenant’s radar when it’s looking to cut costs. A tenant trying to trim operating costs can spell trouble for you, however, if believing that it...
Some tenants that turn out not to be able to afford the rent for their space are upfront with their owners and try to deal with the situation the best way they can. Unfortunately, you may someday be faced with a tenant that must move out of its space before the end of its lease, but tries to get...
Q: A shopping center near mine has experienced vandalism and at least one burglary recently. The crimes took place after hours. I’m afraid that my center will be affected next. I’ve installed more lighting in the parking lot. What...
Retailers are increasingly weaving their way through Manhattan’s Garment District, setting up shop in the neighborhood that was once very specialized and catered to the fashion industry. Now, retailers, cafes, and upscale restaurants are taking over storefronts—and landlords are...
No matter how financially sound your tenants seem at the start of a lease, there’s no guarantee they will stay that way. So it’s important to take all possible steps to protect yourself. Once a tenant files for bankruptcy, bankruptcy laws control what you can collect from the...
It’s typical for commercial leases to allow tenants to prorate rent if certain events, such as destruction of the tenant’s space, occur. But when you agreed to rent proration, you probably didn’t intend to let a bankrupt tenant that decides to reject its lease prorate its last...
Q: There are several retail tenants in my building, which I plan to convert to a condominium building with both commercial and residential units. I sent notices to the tenants announcing the plan and letting them know that they’ll be...
A Bradenton, Fla., 41-year-old shopping mall was on the online auction block recently, with the winning bid ultimately reaching $33.75 million. Empty storefronts have plagued DeSoto Square Mall for years, but a new owner isn’t necessarily the answer—and there will still be...
Over the years, commercial real estate owners and tenants have hammered out many issues surrounding compliance with the Americans with Disabilities Act, often specifying in their leases which party will be responsible for compliance. But if you don’t draft your lease terms carefully with a...
If you haven’t negotiated a favorable holdover clause in your lease with a tenant, you may end up getting stuck with low rent and high costs if it won’t move out of the space when its lease term is over. That’s because to get rid of a tenant that doesn’t move out when its...
On July 17, the Senate passed the Terrorism Risk Insurance Program Reauthorization Act of 2014, extending the original Terrorism Risk Insurance Act (TRIA)—enacted in 2002 following the events of 9/11—for an additional seven years. Many CRE industry participants have been advocating...
