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There is no denying that online shopping and changes in consumer spending habits have had a profound impact on brick-and-mortar shopping centers. Rapid advances in technology have changed how and where consumers shop, how they spend their money, and how they spend their time. The impact is evident to anyone who has visited a shopping mall in the last couple of years. For the past half-century, retail giants have been steadfast anchor tenants, driving foot traffic and sales at shopping centers. Amid the current so-called retail apocalypse, an unprecedented number of classic anchor tenants are now gating their big-box entrances and going dark. More than 20 retail chains have filed for bankruptcy in recent times, and others are liquidating, falling like dominoes.
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Sui Generis: Draft Like You Mean It
By Lydia Pilch
The automatic acceptance of various boilerplate clauses in commercial leases in the face of jurisprudential modernity and evolving legal approaches is dangerous. The evolutionary exploits of a commercial lease aren’t done yet, nor should they be.
NYC Guarantor Liability for Post-Window-Period Rent
By Cheryl Ginsburg
In Tamar Equities Corp. v. Signature Barbershop 33 Inc., the Appellate Division analyzed whether the Guaranty Law bars recovery from a guarantor where a commercial tenant’s default initially arose during the Guaranty Law’s window period, but persisted after its expiration.
Exploring Debt Restructuring Options for CRE Owners
By Michael Criscito
In the dynamic landscape of real estate, commercial real estate owners often find themselves facing financial challenges that necessitate a strategic approach to debt management. In such cases, exploring debt restructuring options becomes a crucial consideration.
‘Yellowstone’ Injunctions: Navigating the Wild West of Commercial Lease Disputes
By Janet Kljyan and Charles F. Martin III
The Yellowstone injunction is implicated in nearly every lease for commercial real property in the state of New York, yet most landlords and tenants do not know what it is or how it affects them. Below is a succinct overview of its implications so that commercial landlords and tenants can better navigate lease disputes.