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Legal assistance for anchor tenants in shopping centers

| Jan 7, 2021 | Commercial Real Estate |

Leasing commercial space can be risky for a California retailer. For these types of businesses, it is essential to choose the right location, and in many situations, this means leasing space in a shopping center. Anchor tenants are the largest retailer in the shopping center, and they draw in a significant portion of the overall amount of traffic for a development. It is especially important for anchor tenants to protect their interests when entering an agreement with a retailer.

A commercial lease can be custom tailored to the needs and interests of the anchor tenant. Each retailer will have concerns unique to its particular type of business, and ensuring the contract addresses those things can help prevent complications in the future. With the exceptional benefit a successful anchor tenant can bring to a shopping center, a developer should be willing to modify an existing lease or craft a sufficient one.

During the lease, a retailer may have issues with the developer or property manager over issues that include anything from building repairs to parking lot security. It may be necessary for the tenant to seek legal guidance regarding how to protect important rights and enforce the terms of the lease. Litigation may be necessary in cases where the problem persists and a reasonable resolution does not seem possible.

It is helpful for anchor tenants to work with an experienced California real estate attorney when negotiating a lease. This guidance is also essential when navigating complications that may arise after signing the lease. For any issues related to commercial tenant rights and interests, it may help to first seek an assessment of the issues at hand.