Exclusive use clauses are not uncommon in shopping center leases. Tenants often request these clauses to prevent the landlord from renting space to other tenants who are competitors. Ideally, a shopping center includes a...more
Briefcase: Quarterly update on key real estate cases including: Pandemic Clause Included in Business Lease Renewal - ..A shopping centre lease renewal decision contains useful guidance on how the court will assess...more
Simon Property Group is at it again. Two years ago, Simon took the shopping center world by storm when it obtained an injunction preventing Starbucks Corporation from shuttering 77 of its Teavana stores in Simon malls across...more
This week, the BCLP Retail team discuss the latest round of government restrictions to reduce the spread of Covid-19, and offer an updated timeline of relevant measures. We look at potential uses of empty retail space and...more
The retail industry has experienced an unprecedented and immediate shift as a result of the economic fallout from COVID-19. One of the most apparent changes is evident when handling commercial retail leasing; read on to...more
When a commercial tenant leases space in a shopping center or mall, a primary consideration for the tenant is the expected benefit to their business of the foot traffic from the customers that will be attracted to the other...more
A recent decision from the United States District Court for the Southern District of New York (the District Court) in the bankruptcy cases of Sears Holdings Corp. may loom large in a day and age when shopping mall operators...more
In general, a trustee or debtor in possession may assign a lease if it cures any monetary defaults and provides adequate assurance of future performance by the proposed assignee. If the lease is for space in a shopping...more
There continues to be a lot of discussion throughout the commercial real estate industry about competition from online retailers and the holes created by failing and downsizing businesses that have traditionally focused on...more
Pop-up shops have become an increasingly popular way for both new and existing retailers to introduce a business or to test a new product, service or location. The original pop-ups were seasonal, such as Halloween and...more
Granting a tenant an exclusive use of their premises in a retail setting can be a powerful inducement to have the tenant agree to a lease. There is little doubt, however, that the use of exclusives often leads to eventual...more
Goulston & Storrs partners Nancy Davids, Matt Epstein, Karen O’Malley and David Rabinowitz recently sat down with Forbes to discuss how changes in consumer behavior continue to drive evolution in the retail real estate...more
Exclusive use provisions are common in commercial leases, especially in large shopping centers with many tenants. An exclusive use provision essentially allows a tenant to use its premises for an intended specific use (for...more
Shopping centers are not dying. The retail landscape is changing, however, and so too are shopping centers. Retail stores have been closing at a breakneck pace, and Wall Street seems to think the worst is yet to come....more
Outlet malls are popular destinations for consumers seeking a bargain, even if not everyone agrees that the deals are as good as advertised. But although the prices may seem low, a common provision in lease agreements...more
Landlords beware: You may not be able to rely on all the remedies found in your lease if your tenant files bankruptcy. For example, the bankruptcy section of your lease may provide that the tenant filing a bankruptcy petition...more
On October 21, 2015, the New Jersey Appellate Division affirmed a trial court ruling that a South Jersey landlord did not violate a coffee-related exclusivity provision in its lease with Starbucks when it subsequently rented...more