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Shopping Center Remodeling and Expansion: Considerations and Drafting Points

By Paul Robeznieks Part One of a Two-Part Series

In today's commercial real estate market, with new shopping centers being developed at a rapid pace, landlords and tenants in existing older shopping centers have to work diligently to stay competitive. A factor that should be considered by both parties to stay competitive includes the eventual need to remodel and/or expand the shopping center.

This two-part article explores some of the issues that arise in negotiating a lease form that contains clauses defining the rights of the landlord and obligations of the tenant with regard to remodeling or expanding a shopping center. The first part of the article discusses negotiating points that could benefit, rather than burden, a landlord and tenant, during the administration of the lease. Part two will provide some suggested model language to consider when drafting a lease.

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