Given the age-old maxim of retailers that what matters is 'Location, Location and Location,' it is often difficult for an in-line retail tenant to confront the fact that its landlord can require it to relocate its store to other space in a mall or shopping center.
Location, Location and Location (But Relocation?)
Given the age-old maxim of retailers that what matters is 'Location, Location and Location,' it is often difficult for an in-line retail tenant to confront the fact that its landlord can require it to relocate its store to other space in a mall or shopping center. On the other hand, owners of malls and shopping centers must retain the right to expand, to add new anchors and to remerchandise their properties from time to time — thus, the 'Relocation' provision found in virtually all forms of in-line retail leases. This article explores the major issues that a relocation provision creates for a retail tenant and how some of those issues might be addressed in the lease.
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