Phoenix Arizona Addendums to Shopping Center Lease

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• City: Phoenix
• Control #: US-60947
• Format: Word; Rich Text

Description

This document provides addendums to a shopping center lease. The tenant agrees to pay as an additional charge each month for its proportionate share of the reasonable cost of operation, repair and maintenance of the common area (including, among other costs, those incurred for lighting, water, sewerage, sanitary control, painting, cleaning, paving, removal of snow, ice, trash and garbage, policing, landscaping, repairing, replacing guarding and protecting clothes) which may be incurred by the landlord and five percent (5%) of the foregoing costs to cover the landlord's and administration and supervisory costs. Phoenix, Arizona is a vibrant and populous city located in the southwestern United States. Known for its warm climate, diverse culture, and stunning landscapes, Phoenix has become an economic hub with a flourishing retail sector. As a result, the city has a range of addendums and clauses specific to shopping center leases, which are crucial in outlining the terms and conditions of renting retail space in this bustling city. Some common types of Phoenix, Arizona addendums to a shopping center lease include: 1. Common Area Maintenance (CAM) Addendum: This addendum outlines the responsibilities and expenses associated with maintaining the common areas within the shopping center, such as parking lots, walkways, and landscaping. It addresses costs for repairs, utilities, cleaning, and other related fees that the tenant may need to contribute towards. 2. Exclusive Use Addendum: This addendum grants the tenant the exclusive right to operate a specific type of business within the shopping center, prohibiting other tenants from engaging in similar trade. It ensures that a fair marketplace is maintained, allowing the tenant to thrive without direct competition from nearby stores. 3. Tenant Improvement Allowance Addendum: This addendum addresses the improvements or alterations that a tenant can make to their rented retail space. It outlines the financial obligations of both the tenant and the landlord, specifying who will cover the costs and set a limit to the amount that can be spent on the improvements. 4. Co-Tenancy Addendum: This type of addendum may be applicable when a tenant's leasing decision is contingent upon certain anchor tenants remaining in the shopping center. It addresses the potential effects on the lease if the anchor tenants leave or close their businesses, ensuring the tenant's rights and options are protected. 5. Signage Addendum: This addendum tackles the rules and regulations concerning the display of signage for the leased premises. It outlines the permitted size, design, and location of signs, ensuring that the signs are consistent with the shopping center's overall aesthetics and guidelines. 6. Operating Hours Addendum: This addendum outlines the hours of operation for the shopping center as a whole and may specify any required opening and closing times for individual tenants. It ensures that all tenants adhere to the agreed-upon schedule, providing a consistent and convenient shopping experience for customers. It is important to review and understand these addendums thoroughly before signing a shopping center lease in Phoenix, Arizona. Seeking legal advice and ensuring that all relevant information is included in the agreement will help protect both tenants and landlords, establishing a mutually beneficial relationship within the dynamic retail landscape of Phoenix, Arizona.

Phoenix, Arizona is a vibrant and populous city located in the southwestern United States. Known for its warm climate, diverse culture, and stunning landscapes, Phoenix has become an economic hub with a flourishing retail sector. As a result, the city has a range of addendums and clauses specific to shopping center leases, which are crucial in outlining the terms and conditions of renting retail space in this bustling city. Some common types of Phoenix, Arizona addendums to a shopping center lease include: 1. Common Area Maintenance (CAM) Addendum: This addendum outlines the responsibilities and expenses associated with maintaining the common areas within the shopping center, such as parking lots, walkways, and landscaping. It addresses costs for repairs, utilities, cleaning, and other related fees that the tenant may need to contribute towards. 2. Exclusive Use Addendum: This addendum grants the tenant the exclusive right to operate a specific type of business within the shopping center, prohibiting other tenants from engaging in similar trade. It ensures that a fair marketplace is maintained, allowing the tenant to thrive without direct competition from nearby stores. 3. Tenant Improvement Allowance Addendum: This addendum addresses the improvements or alterations that a tenant can make to their rented retail space. It outlines the financial obligations of both the tenant and the landlord, specifying who will cover the costs and set a limit to the amount that can be spent on the improvements. 4. Co-Tenancy Addendum: This type of addendum may be applicable when a tenant's leasing decision is contingent upon certain anchor tenants remaining in the shopping center. It addresses the potential effects on the lease if the anchor tenants leave or close their businesses, ensuring the tenant's rights and options are protected. 5. Signage Addendum: This addendum tackles the rules and regulations concerning the display of signage for the leased premises. It outlines the permitted size, design, and location of signs, ensuring that the signs are consistent with the shopping center's overall aesthetics and guidelines. 6. Operating Hours Addendum: This addendum outlines the hours of operation for the shopping center as a whole and may specify any required opening and closing times for individual tenants. It ensures that all tenants adhere to the agreed-upon schedule, providing a consistent and convenient shopping experience for customers. It is important to review and understand these addendums thoroughly before signing a shopping center lease in Phoenix, Arizona. Seeking legal advice and ensuring that all relevant information is included in the agreement will help protect both tenants and landlords, establishing a mutually beneficial relationship within the dynamic retail landscape of Phoenix, Arizona.