Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Commercial Leasing Law & StrategyKickerFeaturesSectionsNewsLJN Newsletters

It's Just a Phase: Issues and Answers for Landlords When Phasing a Project

By Ira Fierstein

In today's larger community centers, the developer is often faced with the need to construct the shopping center in phases, either to ensure adequate tenancies before undertaking the next portion of the center or to negotiate a sale of a portion of the shopping center to a large department store user who has its own agenda on when to construct its store. In either case, it is necessary for the developer to address the construction timing of the various phases and to deal with the issue of whether certain phases will be built at all. This article focuses on certain provisions the landlord needs to incorporate into its leases to protect itself in these situations.

The threshold concern relates to the possibility that a particular phase, or portion of the shopping center, may not be built at all. Perhaps the landlord hits a snag in its leasing program, and the lease it is negotiating ends up being one of the relatively few leases in the current phase. Perhaps the landlord has difficulty obtaining a construction loan and decides to forego the phase that contains the lease in question and concentrate on filling up another phase in order to reach leasing requirements imposed by the construction lender or permanent lender of the first phase.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs Image

A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.

Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Blockchain Domains: New Developments for Brand Owners Image

Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.

Coverage Issues Stemming from Dry Cleaner Contamination Suits Image

In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.