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Real Estate Law
My concern relates to Tenant's Proportionate Share computation. I rented a retail space beside a theater that
My concern refers to the calculation of the Tenant's Proportionate Share.
I have leased a retail area nearby to a film theater, which is also the landlord. The theater utilizes around 90% of the mezzanine (the 2nd flooring of the structure) for housing projectors and devices to show films.
In my industrial lease arrangement, the term "Tenant's Proportionate Share" specifies the ratio of the Gross Leasable Area (GLA) of the Premises to the overall gross leasable location of finished structures in the Shopping mall. This omits any office space utilized by the supervisor of the Shopping Center, mezzanine and/or basement locations not designated for retail functions, and any outside seating areas or garden shops.
Considered that the cinema occupies about 90% of the mezzanine for its own commercial usage, should the proprietor consist of or omit the mezzanine in the GLA for the Common Area Maintenance (CAM) estimation?
Real Estate Lawyer: Richard
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My concern pertains to the calculation of the Tenant's Proportionate Share.
I have leased a retail area adjacent to a theater, which is also the property manager. The theater utilizes approximately 90% of the mezzanine (the second flooring of the building) for housing projectors and equipment to reveal films.
In my business lease contract, the term " Tenant's Proportionate Share " specifies the ratio of the Gross Leasable Area (GLA) of the Premises to the total gross leasable area of completed structures in the Shopping Center. This excludes any workplace used by the manager of the Shopping Center, mezzanine and/or basement locations not designated for retail purposes, and any outdoor seating areas or garden shops.
Considered that the theater occupies about 90% of the mezzanine for its own commercial use, should the property manager include or exclude the mezzanine in the GLA for the Common Area Maintenance (CAM) estimation?
Good afternoon. Yes, in this circumstance, you would need to include the mezzanine in the CAM computation considering that it is clearly being utilized for retail purposes due to its connection to the theatre.
I hope this has supplied the guidance you were trying to find. I wish you the finest of luck!
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The info supplied here is illegal suggestions. Since each state has different complexities in their laws, the information given is basic in nature. This interaction does not develop an attorney-client relationship with you. I hope this answer has actually been helpful to you.
Are you conscious of any case law or statute in California that I can refer to?
I'm sorry, I do not have the specific statutory or case law language at hand. I have actually been involved in commercial leases for several years, including numerous that refer to movie theatres, and I simply know this is the basic practice. I have yet to experience one that wasn't determined in this way.
