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Structuring Your 'Event/Food Service' Occupancy Agreement to Service Mixed-use Tenants

By Steven J. Roberts

Much has been written in connection with retail leases in “mixed-use” projects. Retail, office and living spaces coexist in mixed-use developments ' and such developments are currently one of the hottest concepts in many major metropolitan areas. As the concept evolves and grows, other components have been and are being added, such as entertainment (e.g., theaters, bowling alleys and billiards), hotel, civic and cultural offerings. In addition, these mixed-use developments are being sought out for events by event planners, companies seeking meeting spaces not accommodated within their office space, promotional events, civic meetings and events sponsored by arts and cultural organizations.

There is an opportunity to enhance mixed-use projects by developing “event space” to accommodate these needs. Several options are available to structure an occupancy arrangement for these events. This article briefly discusses some of the options available, and items you may want to include in your transaction.

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