An Anchor Tenant Vacancy Clause (ATC) is a contractual provision that is typically included in a lease agreement between a landlord and a tenant. It provides the landlord with a certain level of protection and financial security in the event that the tenant (i.e. the anchor tenant) terminates their lease or vacates the premises for any reason. There are two main types of ATV Cs: standard and reverse. A standard ATC requires that the anchor tenant pay a specific amount of rent to the landlord in the event that they vacate the premises prior to the lease expiration date. This is meant to protect the landlord from financial losses due to the tenant’s early departure and to ensure that the rental income from the property remains consistent. A reverse ATC requires that the landlord pay the tenant a specific amount of rent in the event that the anchor tenant vacates the premises prior to the lease expiration date. This is meant to protect the tenant from financial losses due to the landlord’s early termination of the lease.
Anchor Tenant Vacancy Clause
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Related Content. Also known as the prime tenant, draw tenant or key tenant. A tenant usually strategically located in a shopping center to generate and maximize consumer traffic for other smaller retail tenants in the center.
Requiring the continued presence of an anchor store as a condition of the lease is known as a co-tenancy clause.
An anchor tenant is a large and well-known business that occupies a significant amount of space in a commercial real estate property. This type of tenant is often the first tenant to sign a lease agreement with a developer or landlord, and is crucial to the success of the property.
Anchor tenants are the largest or most prominent stores in a retail location. They help draw customers into the area either because they have unique items or they're a well-known name. In strip centers, anchor tenants are often big-box stores like Target, Wal-Mart or grocery stores.
What are Anchor Tenants in Commercial Real Estate? Anchor tenants are the largest or most prominent stores in a retail commercial real estate development. They generally help draw customers into the area. In strip centers and power centers, anchor tenants are often big-box stores or grocery stores.
The Future of the Anchor Tenants Concept One example is the Apple Store, which, in recent years, has become an increasingly common?and successful?anchor tenant for shopping malls.
In a commercial retail center, an anchor tenant is one who leases the largest amount of space. As a commercial real estate company, we like grocery store anchored retail centers. Example anchors include companies like WalMart, Kroger, Safeway, and Whole Foods.
