Restrictive Covenants in Commercial Developments

The recorded agreements between property owners (and sometimes major tenants) that set forth the guidelines for the construction, management and operation of a multi-parcel commercial retail development are generally known under a variety of names such as “conditions covenants and restrictions,” or “reciprocal easement agreements” or “operation and easement agreements” (collectively an “REA” for purposes of this article); yet whatever the name of the recorded agreements, they are generally intended to add value to the shopping center and protect the interests of the property owners and tenants, as the case may be.