Category: Leasing

Following An Evolving Retail Scene In New York City

New York City, one of the world’s premier shopping destinations is about to get over one and a half million square feet of new retail space. Some will be delivered to Long Island City, an area that has been waiting for a retail resurgence for over 2 decades, and...
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Bankruptcy Lease Auctions – Landlords Can Play Too

Toys “R” Us filed for bankruptcy in September 2017, with hopes that a strong holiday season would facilitate a successful reorganization. After holiday sales proved to be far less lucrative than the company and its professionals had hoped, the  announcement was recently made  that the company would commence  store...
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Settlement Opens Door For Outer Borough Outlet Centers

In August 2017, Simon Property Group (“SPG”) and the Office of the Attorney General of the State of New York (“NYAG”) entered into an Assurance of Discontinuance (the “Settlement”) regarding alleged anti-competitive effects of radius restrictions used by SPG in leases at the Woodbury Common Premium Outlets (“Woodbury Commons”)...
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Vitamin D and Retail: But Not Without Due Diligence First

We’ve all read about the question marks floating around the fate of brick and mortar retail in America. Factors like the strength of e-commerce and shifting consumer preferences (such as the popularity of urban centers over suburbia and consumers’ yearn for experiences over traditional shopping trips) are challenging landlords...
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Surprises For International Retailers Coming to the USA

We are all aware that stateside landlords long for that new, fresh idea—something they can show off at their mall or street location and that can’t be found in every mall in every city in the country. Successful international retailers are aware of this potentially lucrative avenue to increase...
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End Of An Era Or Simply a Moment In Time?

What conclusions can we draw from the increasing vacancy rates in prime NYC retail real estate ?  A momentary blip? Something we’ve seen many times before, only to be followed by the inevitable climb in rents to their customary stratospheric levels? Analysts claim that rents in the retail sweet...
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ICSC Mid-Atlantic Conference & Deal Making Recap

With seemingly all of the country’s attention focused on Washington DC lately, we snuck out of the District and across the Potomac River to National Harbor last week for ICSC’s 2017 Mid-Atlantic Conference and Deal Making . The conference was very well attended, and the mood among attendees and...
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Upscale Food Halls—On Trend and On The Rise

The growth of high-end food halls is taking off around the country as consumers seek fast, fresh, high-quality, chef-driven meals with a local touch, and as landlords seek to cash in on the continued growth of fast-casual dining. These boutique-style, upscale food halls are modeled more after famous European...
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Are Prohibited Uses Prohibiting Opportunity?

Despite how it may sometimes seem when in the throes of negotiating a lease between a shopping center landlord and a retail tenant, the overarching goals of the two parties are aligned. Both parties want the tenant to be successful and want the landlord’s shopping center to be active...
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New Lease Accounting Rules Are Final: Retailers and, Ultimately, Landlords Can Expect Changes

We recently wrote about expected changes to the rules governing the way leases are accounted for on balance sheets and suggested the changes would have major implications for retailer tenants and longer term implications for landlords. Late last week, as expected, the Financial Accounting Standards Board (“FASB”) issued a...
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A Case of Caution: the Effect of Redevelopment on Existing Mall Leases

In a follow up to our other posts regarding the White Flint Mall redevelopment, the jury has reached a verdict. Until recently, White Flint Mall in Bethesda, Maryland was a prime example of retail mall success. However, as the mall began to lose tenants and customers, its owner decided...
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Blowdryers and Flatirons: The Real Estate Market Heats Up with Salon Suites

For years the price of entry for solo entrepreneurs in the health and beauty category was high. With similar fixed startup costs as any professional practice would have, such as real estate, insurance, supplies, but with much slimmer profit margins, stylists and aestheticians were often relegated to renting chairs...
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Pop-up Retail

Picture this: you’re the owner of a building in a bustling downtown hub and you find yourself with vacant retail space in a highly visible location. The previous tenant just left and you are still looking for the right long-term tenant, though you suspect the search could take several...
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Liquor Licensing Changes in Massachusetts Impact Landlord-Tenant Relationships

Retail landlords and tenants are heavily impacted by recent changes in liquor licensing forms generated by the Massachusetts Alcoholic Beverages Control Commission (ABCC) and increased background investigations related to license applications. Although Massachusetts restaurant and package store operators have long been accustomed to disclosing financial, operational and personal information...
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Retail Business Incubators Bolstering Local Economies

Vacancy rates are still well above historic levels in neighborhood and community shopping centers and on “main streets” nationwide -- a lingering effect of the economic downturn in 2008-2009 . In response, some retail owners, nonprofits and municipalities are experimenting with retail business incubators as a means to fill...
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Landlord Considerations: Medical Marijuana Cultivation Centers and Dispensaries

On March 30th the District of Columbia Department of Health announced the first group of businesses that are eligible to establish marijuana cultivation centers as part of the District’s medical marijuana program. The businesses that will be eligible to establish marijuana dispensaries are expected to be announced in late...
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Sustainability in the Retail and Restaurant Industry: An Imperative and an Opportunity

Once motivated purely by altruism, sustainable retail development and building operation are increasingly encouraged by both governments and market conditions, if not explicitly required by law. Sustainability presents attractive opportunities to the retail and restaurant industry despite its unique challenges, such as significant interior and exterior demands, management of...
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Back Bay Blackout

Hope for the best but prepare for the worst. Fires, natural disasters such as floods, hurricanes and earthquakes, and extended power outages can become dangerously “hypothetical” in the heat of a retail lease negotiation. But just ask landlords and retail tenants in Boston’s Back Bay, Chinatown, Theatre District, Kenmore...
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