Retail leases and rent payments: Timing is everything

Two recent client situations remind me of a critical lease issue that sometimes gets overlooked. In each situation, the tenant entered into a retail lease where rent would begin within “x” days after the execution date of the lease. Under normal circumstances, the free rent period in both leases would have been sufficient for the tenant to complete its build out. Unfortunately, both tenants ran into problems obtaining permits and/or completing construction.

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