Despite the fact most shopping centers use a standardized uniform lease for most tenants, numerous aspects of such uniform leases should be analyzed and negotiated, to the extent possible, depending upon the financial strength of the parties and prevailing financial conditions. Parties could negotiate as to whether the rent is fixed or it is based on a percentage of gross sales or both, as to whether tenant pays for common areas maintenance costs and how much the tenant is to pay, as to whether tenant is to pay for alterations or improvements and how much, as to whether tenant can sublet or assign part or all of leasehold interests in the premises. Let us, in some detail, analyze SOME of such shopping center lease provisions.
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Commercial Law & Contracts Updates, Commercial Real Estate Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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