Estoppel Certificates 101 for Tenants

Many independent retailers and small business owners approach a landlord’s request for an estoppel certificate as an innocent formality. The documents are relatively brief and usually appear to state the obvious (rent, lease term, square footage, etc.).   Nonetheless, lurking among the seemingly obvious are laws and inferences that may lead to unintended consequences that negatively impact lease rights and business operation.  Understanding the purpose of an estoppel certificate and its effects is the first step to avoiding disaster. Continue reading

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Letters of Intent (LOI): Five Common New Tenant Surprises to Avoid

Entering into a retail lease is one of the biggest financial commitments undertaken by independent retailers and franchisees.  The letter of intent is the starting point for this commitment and sets the trajectory for the entire lease term.  While nothing takes the place of engaging an attorney experienced in retail lease drafting and negotiation, knowing the following five basics before accepting a letter of intent can help avoid detrimental surprises at the lease stage of negotiations. Continue reading

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Tenant’s Guide to Understanding Landlord Imposed Radius Restrictions

Have you ever driven down the street and noticed two gas stations or two 7-Eleven stores directly across the street from one another and wondered what gives?  Well, this happens either because some unlearned soul mistakenly believes that two are … Continue reading

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