Perimeter and Outparcel Redevelopment in Retail Centers: Due Diligence and Documentation
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine due diligence and transaction concerns with development and redevelopment of outparcels in regional shopping centers, strip centers and lifestyle centers. The panel will discuss how best to deal with existing operating and reciprocal easement agreements (REAs), splitting off outparcels from existing centers, dividing a vacated big box on an outparcel into multiple tenant spaces, site planning, navigating development restrictions in recorded leases and deeds, and more.
- Evolving uses for retail outparcels: reasons for redevelopment
- Existing REAs, leases, deed restrictions: impact on development, determining amendments needed
- Complying with or amending an existing site plan
- Carving outparcels from an existing center or aggregating parcels
- Redeveloping the building or parcel
- Subdividing for smaller tenants
- New REAs
- Alternative uses
- The role of municipalities and lenders in the outparcel and perimeter redevelopment process
The panel will review these and other key issues:
- What factors should an owner or purchaser consider in deciding whether a vacated outparcel or building is suitable for redevelopment?
- How might an REA impede redevelopment, and when should it be amended?
- What steps should be taken when the proposed development will deviate from the previously approved site plan?
- What issues should a developer consider before reconfiguring an existing big box store for multiple tenants?
Kathleen D. Boyle
Meltzer Purtill & Stelle
Ms. Boyle focuses her practice on real estate, particularly leasing, development and redevelopment of retail, mixed... | Read More
Ms. Boyle focuses her practice on real estate, particularly leasing, development and redevelopment of retail, mixed use, office, warehouse and industrial projects on behalf of developers, landlords and tenants. Her experience includes adaptive re-use, urban in-fill, transportation-oriented development, and big box, outparcel and build-to-suit leasing. She worked as an in-house real estate counsel on both the developer/landlord side and the tenant side. She writes and lectures on development and leasing matters and shopping center operating issues.Close
Meltzer Purtill & Stelle
Ms. Nackeeran is a commercial real estate attorney with experience representing a variety of private equity real estate... | Read More
Ms. Nackeeran is a commercial real estate attorney with experience representing a variety of private equity real estate investment firms and institutional investors in commercial real estate transactions, including the acquisition, disposition, and financing of national portfolio of industrial warehouses, shopping centers, and office buildings. She also has experiencing in both office and retail leasing, where she has represented both tenants and landlords. She has negotiated and drafted purchase and sale agreements, loan documents, and leases in a wide array of real estate transactions.Close