Sign At Your Own Risk: Critical Lease Provisions to Negotiate or Avoid
4 Min Read By Karen Abrams
Negotiating a retail lease is one of the most critical stages in the life of a restaurant. Each lease presents its own distinct issues and challenges; failing to have significant attention to detail can inadvertently result in an unsuccessful business or impede your growth; one oversight can destroy your succession plan or exit strategy.
Franchisees, often faced with immense market competition and the franchisor’s demanding development requirements, are prone to concede important issues and make careless mistakes in lease negotiations. What follows is a list of critical lease provisions which, if not identified and properly negotiated, could have a material impact on the viability of your business:
Exclusive Use Protection
An exclusive use clause allows you to maintain an edge against competitors by restricting your landlord’s ability to lease space in your shopping center (and sometimes even within a larger area beyond the perimeter of your shopping center) to another…
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