Why would a retail store tenant agree on the lease for outparcels to be treated as part of Store Space?

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New retail center with big-box anchor and three retail outparcels. Representation included acquisiti Fellman Law Group, P.C. has the experience you need to get the deal done. The following is a list some of our clients and representative projects for which we have provided legal counsel:Ankur Realty Trust Econo Lodge HotelMalden, MassachusettsRepresented hotel developer/operator in the disposition of a 51-room Econo Lodge Hotel, including negotiation of Purchase and Sale Agreement, and Ground Lease and Interim Operating Agreement.

Atlantic DevelopmentLowe’s PlazaWest Bridgewater, Massachusetts120,000+ square foot Shopping CenterNew retail center with big-box anchor and three retail outparcels. Representation included acquisition of the site, cross-easements with abutting property owners, lease negotiations with anchor tenant and outparcel tenants, and construction and permanent financing with life insurance company lender. Atlantic DevelopmentTopsham Crossing Shopping CenterTopsham, Maine200,000+ square foot Shopping CenterNew retail center with big-box anchor, mid-size junior anchors and retail outparcels.

Representation included acquisition of site, negotiation of cross easements, and sales of portions of site to Target and to National Retail Properties. Atlantic DevelopmentTopsham Retail CenterTopsham, Maine60,000+ square foot Shopping CenterNew retail center ground leased to regional supermarket operator. Representation included acquisition of site, negotiation of cross easements with abutting property owner and utility company, and negotiation of ground lease with regional supermarket operator.

Atlantic DevelopmentGardner Retail CenterGardner, Massachusetts100,000+ square foot Shopping CenterNew retail center leased to regional supermarket operator. Representation included acquisition of site, negotiation of cross easements with abutting property owner, construction financing, and negotiation of ground lease with regional supermarket operator. Sources: http://www.fellmanlawgroup.com/projects.asp .

Look at this Tenants and OEA AgreementsWhen developing outparcel land for a shop-pingmall, anchor tenants and major retailers will usuallyattempt to impose their restric-tions in an operatingand easement agreement (OEA). This is where youmust make your move and negotiate to protect yourbest interests. Structure the OEA to specify whetheroutparcels are:• Included with the mall for common areamaintenance purposes or parking ease-mentbenefits,• Encumbered with height, parking ratio, signageand use restrictions, and• Subject to the developer’s approval of therequired elevations, signage, screening orlandscaping, parking rights, and any othercommon area expense or service matters.

Make sure your outparcel contracts or leasesrequire your agreement to any future OEAamendments. Even when anchor tenants anticipateoutparcel-based restaurants, they may restrictdevelopers from addressing a particular restaurant’sdistinctive details. For example, height restrictionsmay exclude arches or other hallmark architecturalele-ments of some chain restaurants.

Sources: docs.google.com/viewer?a=v&q=cache:MzR7FkWhJn4J:bullrealty.com/BReport/The%2520Trouble%2520with%2520Outparcels.pdf+outparcels+Store+Space+clause&hl=en&pid=bl&srcid=ADGEESihc_3uXy5LAs-_C6asM3mRZjy5Vo06qbij-LEq3ah8jrxXmSo-HZPkkbQ8Bobe0ytxfOfP22TOjtdcJTy_1H2W8wCuau8n3dpZQ1cPBDTA3_ePLv9BP0jbhYWZfAGS1hmNp6a-&sig=AHIEtbTlcssKOYEdJrdGEazeph60AFODkw .

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