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An exclusive use clause is one of the most important and heavily negotiated business issues in a shopping center lease, and therefore, it is usually negotiated by the principals or brokers in the letter of intent. In a typical shopping center lease, the tenant has committed to invest considerable sums to open its store, and expects to be able to recover such sums and earn additional profit based upon projections at that store. These projections are often built upon the anticipated demand for the tenant’s product in the particular location, and the location’s ability to support the demand.
By Alan Nochumson
Part One of a Two-Part Article
When entering into a lease for commercial space, there are some items that should not be overlooked. Landlords and tenants alike should make sure that the following things are addressed in the lease, one way or another.
By Ira Fierstein and Michelle Palka
An Illinois Appellate Court recently ruled in favor of a commercial tenant after a new owner acquired a commercial building and attempted to collect accrued unpaid rent owed to the previous landlord.
By Albena Petrakov
With the recent carnage in the retail industry, including Sears and many other retailers of all shapes and sizes, a lot of attention goes to the fate of landlords when their tenants seek bankruptcy protection.
First Court’s Lack of Jurisdiction over Cause of Action Means Second Action Is Not Barred