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Leasing space in shopping centers is all about anchor tenants

On Behalf of | Dec 13, 2017 | Commercial Real Estate |

As a large retail corporation, you know that developers may court you to lease space on their properties. You know that for them, leasing space in shopping centers is all about anchor tenants, of which you are one. This puts you in a unique position when it comes to negotiating commercial leases for retail space here in Orange County.

Many shopping center owners have their own lease agreements that they offer to prospective tenants. Like most other anchor tenants, you may consider this just a starting point for negotiations. Your retail store may have specific needs regarding the space, and the first order of business may be to determine whether the owner of the shopping center can meet those needs.

In addition, before signing on the dotted line, you want to understand any restrictions placed on you regarding the use of the space, along with any other covenants, conditions and restrictions. In fact, a close review of all lease provisions needs to be done prior to beginning negotiations with the owner. You probably want to make sure that the terms are as favorable to you as possible, and it could take some time and effort to get to that point.

You may consider involving an Orange County attorney in the process who understands the local market and knows what commercial leases in the shopping centers in the area ordinarily end up looking like for other anchor tenants. Every market is different, and having that local advantage could result in better lease terms for your company. Moreover, if you any disputes regarding your lease arise in the future, you already have legal assistance available.