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Real Estate Law
My question refers to Tenant's Proportionate Share calculation. I rented a retail space next to a theater that
My question refers to the computation of the Tenant's Proportionate Share.
I have leased a retail space surrounding to a theater, which is likewise the property manager. The theater makes use of around 90% of the mezzanine (the second flooring of the building) for housing projectors and devices to show motion pictures.
In my commercial lease agreement, the term "Tenant's Proportionate Share" specifies the ratio of the Gross Leasable Area (GLA) of the Premises to the total gross leasable location of finished structures in the Shopping mall. This omits any workplace utilized by the manager of the Shopping mall, mezzanine and/or basement areas not designated for retail functions, and any outside seating locations or garden stores.
Given that the cinema occupies about 90% of the mezzanine for its own business use, should the property manager include or omit the mezzanine in the GLA for the Common Area Maintenance (CAM) estimation?
Real Estate Lawyer: Richard
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My question refers to the estimation of the Tenant's Proportionate Share.
I have actually leased a retail space adjacent to a cinema, which is likewise the proprietor. The theater uses approximately 90% of the mezzanine (the second floor of the structure) for housing projectors and devices to show movies.
In my commercial lease arrangement, the term " Tenant's Proportionate Share " defines the ratio of the Gross Leasable Area (GLA) of the Premises to the total gross leasable area of finished structures in the Shopping Center. This excludes any workplace used by the manager of the Shopping Center, mezzanine and/or basement areas not designated for retail purposes, and any outdoor seating areas or garden shops.
Considered that the cinema occupies about 90% of the mezzanine for its own industrial usage, should the landlord include or exclude the mezzanine in the GLA for the Common Area Maintenance (CAM) computation?
Good afternoon. Yes, in this scenario, you would need to include the mezzanine in the CAM estimation because it is plainly being made use of for retail functions due to its connection to the theatre.
I hope this has actually offered the guidance you were trying to find. I wish you the best of luck!
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The details provided here is illegal suggestions. Since each state has different intricacies in their laws, the information given is basic in nature. This interaction does not develop an attorney-client relationship with you. I hope this response has been helpful to you.
Are you aware of any case law or statute in California that I can describe?
I'm sorry, I don't have the particular statutory or case law language at hand. I have been associated with industrial leases for years, consisting of many that pertain to movie theatres, and I merely know this is the standard practice. I have yet to come across one that wasn't computed in this manner.
