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Surviving the Retail Shift

By Kelly D. Stohs and David P. Vallas
October 02, 2017

In Part One of this five-part series, we addressed managing the legal process to help commercial landlords achieve the most efficient results when dealing with a defaulting retail tenant. But what happens once the shopping center owner or manager recovers possession of the lease premises?

A Landlord's Duty to Mitigate Its Damages

When a retail tenant vacates its leased premises early, the landlord's goal is generally two-fold: 1) to be compensated for the financial loss from the vacating tenant; and 2) to find a replacement tenant as soon as possible. While these two goals seem unrelated in practice, especially as the legal department may step in to handle collection and the leasing department begins its efforts to re-lease the space, a landlord's success in collecting future rent and other damages from the vacated tenant can be significantly affected by what efforts are (or are not) taken to re-lease the now vacant space.

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