"Pop-Up" Leasing: Practical Considerations, Key Provisions for Landlords and Tenants

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, February 5, 2019

Recorded event now available

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Program Materials

This CLE webinar will explore the unique issues facing both landlords and tenants entering "popup" rather than traditional longer-term leases for retail space. Our panel will advise on how best to draft standard lease provisions such as delivery, insurance and maintenance, and provide guidance on how to address the risks associated with such short-term arrangements.

Description

In recent years, the retail landscape has evolved with the rise of pop-up shops which occupy retail space for short periods, anywhere from a few hours to a few months. Sophisticated real estate counsel must be familiar with more than standard commercial leases.

The flexibility of a short-term lease agreement can hold considerable advantages over traditional leases. From a business perspective, pop-ups have compelling propositions for both landlords and tenants. Even tenants and landlords accustomed to using conventional approaches to leasing can benefit from the new market dynamics and opportunities these innovative deals present. But critical to the success of these arrangements is a clear understanding of how they differ from traditional retail leases and the impact of those differences.

Given the short-term nature of the arrangement, pop-up leases will often be a license rather than a lease. Because the license merely grants a privilege of use rather than creating an estate in the property, the rights and duties between the respective parties shift. A reallocation of the associated risks follows.

Listen as our panel of experts in real property transactions provides practical guidance on how to best address the issues and balance the interests of each party involved.

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Outline

  1. Overview of concept
  2. History of retail "pop-ups"
  3. Considerations of landlords and tenants when entering into short-term leases
    1. Unique concerns for "pop-up" art galleries or installations
  4. Short-term lease provisions
    1. Basic terms
    2. Exclusion of specific "basic" provisions
    3. Delivery of possession and condition of delivery
    4. Approvals and permitting issues
    5. Insurance
    6. Right-to-entry and notice
    7. Assignment, sublease, alterations, holdover
    8. Defaults, late charges, default interest, remedies
    9. Rules and regulations
    10. Personal guaranties of lease obligations
  5. Reciprocal easement agreements, covenants and existing leases
  6. Leases vs. licenses

Benefits

The panel will review these and other critical issues:

  • What are the practical benefits of entering into pop-up leases?
  • What are the risks associated with such short-term arrangements?
  • What are solutions to conflicts with REAs, covenants and existing leases?
  • What are the roles of social media and omnichannel retailing?
  • What rights does a company receive as a licensee vs. as a lessee?
  • Is the tenant's liability different under a license than it would be under a lease?

Faculty

Fisher, Robin
Robin Fisher

Founder
Blace

Ms. Fisher’s firm is focused on pop-ups and short-term leasing. She specializes in the tenant representation of...  |  Read More

Wright, Glenn
Glenn D. Wright

Principal
Wright Law Firm

Mr. Wright has handled many billboard, retail, office and commercial leases in the New York metropolitan area for over...  |  Read More

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