Understand your co-tenancy options. Identify opportunities to realize savings.
In a troubled economy, co-tenancy provisions play a critical role in retail leases. In particular, many tenants with co-tenancy rights in their leases are “eking out critical savings” to counter a drop in sales. Vendors are offering services that track store closings at shopping centers for purposes of co-tenancy claims. Tenants may seek reduced rents or even terminate leases when co-tenancy conditions are not satisfied.
NRTA’s Classroom LIVE series is helping tenants of all types determine whether the co-tenancy conditions in their leases are satisfied.
- Have the anchor stores closed?
- Are they occupied by non-retail Tenants?
- What are the vacancy rates at the shopping center?
Lease industry professionals, it is up to you to gather the facts to determine whether you are entitled to reduced rent or other remedies based on the co-tenancy provisions in your lease.
Register now for NRTA’s Real Estate Portfolio Optimization course. Limited seating is available.