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As traditional department stores and so-called "anchor" tenants in enclosed regional malls are closing stores and limiting their expansion in the marketplace, landlords are seeking alternatives to the traditional department store or anchor store to occupy space in their shopping centers.
As traditional department stores and so-called “anchor” tenants in enclosed regional malls are closing stores and limiting their expansion in the marketplace, landlords are seeking alternatives to the traditional department store or anchor store to occupy space in their shopping centers. (“Anchor tenants” can be defined as those selling a wide assortment of goods and occupying more than a certain number (e.g., 50,000) of contiguous square feet of floor area.) These anchor-tenant alternatives — referred to in this article as “Modified Anchor Tenants” or “MATs” — are often defined as follows: A collection of multiple tenants that in the aggregate occupy the lesser of:
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Sui Generis: Negotiate Like You Mean It
By Lydia Pilch
As further follow-up regarding tracking of the lifecycle of a commercial lease, Part Two of this series addresses various negotiation events, strategies, desired outcomes and potentially low key disasters.
New York’s Guaranty Law Continues to Divide Opinion
By Matthew J. Schenker and Joshua Kopelowitz
This article discusses the recent developments surrounding the constitutionality of New York's Guaranty Law. In particular, we address the Southern District’s view that the statute is unconstitutional and the splintered view of the statute’s constitutionality expressed by New York State courts.
Don’t Get Caught Holding a Conditional Loan Approval at Closing
By Matthew Kramer
With rising interest rates and more stringent lending standards for both residential and commercial properties, security deposit disputes caused by buyers’ inability to satisfy pre-closing purchase-financing conditions are also increasing.
New York’s Seldom Used Expedited Money Judgment Mechanism: CPLR 3213
By Massimo F. D’Angelo and Gregory Wong
In New York state and local court cases, there is a seldom-used procedural mechanism for obtaining an expedited money judgment against a guarantor. This article provides an overview of CPLR 3213 motions, an update on the resolution of the split that previously existed between the New York State Supreme Court, Appellate Division, First and Second Departments, and practical guidance for transactional counsel drafting commercial leases and guaranties.
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