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In the Spotlight: Shopping Center Declarations
A commercial tenant contemplating a lease in a shopping center or adjacent outparcel has its work cut out for it in terms of due diligence required. In addition to inspecting the physical characteristics of the premises, which typically includes completion of a survey, environmental and soil testing, a thorough review of the landlord's title report and all corresponding matters of record also should be done as soon as possible after commencing lease negotiations. Some tenants prefer not to incur the expense of ordering and reviewing the title up front due to uncertainty as to whether the lease will come to fruition. However, the knowledge gained from an early title search will prove invaluable if completed sooner rather than later.
Shopping Center Declaration
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