Two recent cases involving The Gap, Inc. may serve as warnings to commercial tenants offering COVID-19 as an excuse for breaking their leases.
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From Digital to Physical: New Considerations for Retail Leasing with the Rise of E-Commerce into Physical Spaces
The rise of e-commerce and the struggle many brick-and-mortar retail stores face is nothing new. Customers are increasingly choosing to shop for clothes, furniture and even groceries from the convenience of their own homes. More recently, however, this shift in the way consumers shop has given rise to new types of retail stores – small showrooms and “pop-up shops.”
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Hunton Partner Speaks on Challenges Faced by Restaurant Industry
Hunton Andrews Kurth restructuring partner J.R. Smith joins the latest installment of Debtwire’s Middle Market Podcast to discuss challenges faced by the restaurant industry, particularly the casual dining franchise space.
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Considerations When Negotiating Common Area Maintenance Costs in Retail Leases
Most retail tenants desire to locate their respective businesses amongst other retail businesses in malls, retail shopping centers or other mixed-use centers. Therefore, when negotiating retail leases, some of the most heavily discussed provisions involve the tenant’s share of Common Area Maintenance expenses.
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Retailers Should Ensure Flexibility in Lease Agreements for In-Store Partners
E-commerce and online shopping are here to stay, but the explosion of new technology and the number of resources available to facilitate online shopping is an opportunity for retailers to embrace new ideas and concepts that will increase foot traffic to their physical locations.
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Shopping Center Restrictions Should Be Revisited in the Wake of Changing Retail
It’s probably painfully obvious to companies in the retail industry and beyond that the old paradigm of the retail shopping center is being permanently altered by e-commerce, as well as changing consumer preferences. As the old-guard stalwarts of retail begin to shutter stores or fold completely, it is up to both landlords and existing anchor
Santa Barbara City Council Strikes Back Against Retail Malaise
Recently, the Santa Barbara City Council, in an effort to combat the retail malaise on State Street in Downtown Santa Barbara, has approved a pilot program that would streamline the permit and review process for potential commercial tenants.
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Developers Advocating for Open-Container Ordinances May Pose Issues for Retail Store Tenants
Retail developers continue to experiment with new concept designs for creating a shopping environment that will bring consumers back to brick and mortar. Along this pursuit to deliver a more attractive retail experience, developers of open-air shopping centers have started lobbying for relaxed open-container ordinances that would enable patrons to explore their retail districts with an alcoholic drink in tow.
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Why Retail Developers and Tenants Should Reconsider the Use of Detailed REAs
Recently, the Fourth Circuit affirmed a jury award in favor of retailer Lord & Taylor for lost profits in connection with a breach of its reciprocal easement agreement with D.C.-area mall owner White Flint, LP. The court found White Flint’s efforts to redevelop the regional mall into a mixed-use project violated the terms of the REA, which can often be an obstacle to redevelopment plans.
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