FYI

 

Lois Potts <lpotts@krigproperties.com>	Tue, Mar 15, 9:10 AM
to me

Hi Henry,

 

I will call you shortly but wanted to get this over to you to start with.

 

Attached is the local leasing agreement for short term tenants. Anything over a year must be approved by corporate.

 

Below is a list of questions that will need to be answered for perm/national leases (and forms requested attached) before we send to legal to draft a new lease, an extension or renewal.

 

• Who is guaranteeing the lease? Did they form a shell? If shell, will need the person/s or entity behind the shell with their Financials submitted. If corporate, please submit the corporate info so our legal can look it up in Dunn system.
• Please send financials. 2 years tax returns – business or personal. P&L: - business or personal. Bank statements showing funds – where is the money coming from?
• What security did you negotiate?
• What is the completed language of Use?
• Estimated delivery date or Tenant possession of space
• Rent commencement date?
• What did you negotiate with the tenants in terms of recapture rights?
• What did you negotiate in terms of dark provisions?
• Is there escalation or this is flat? If escalation, what is the set % and when does it start?
• What did you negotiate in terms of OPEX? Is tenant paying proportionate opex or modified?
• Did you negotiate opex expenses while in construction phase?
• Did you ask for certified reporting?
• Build out plans have LL consent or is Tenant allowed to build whatever it wants?
• What is the assignment and subletting language you negotiated with him?
• Is tenant assuming all utilities and consumables? If not, what is the LL assumed consumables.
• What did you negotiate in terms of tenant’s maintenance responsibility vs LL responsibility?
•  Do we have radius restrictions? If yes, what is it?
• Did you negotiate the Violation & Settlement business terms?   
• Is there an approval clause?
• Who is the attorney reviewing the lease? What is the timeline for executing the lease?

 

 

Thank you,

 

Lois Potts

General Manager

Birchwood Mall

Kohan Retail Investment Group

4350 24^th Ave

Fort Gratiot, MI 48059

(810) 294-8793

www.birchwoodmall.com