Reciprocal Easement Agreements for Retail and Mixed-Use Project Development: Structuring and Amending REAs

Protecting Rights and Obligations; Minimizing Risk for Developers, Retailers, and Other Project Constituents

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

Conducted on Tuesday, August 4, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will advise real estate practitioners on drafting reciprocal easement agreements (REAs) for retail and mixed-use developments and redevelopments, subdividing existing projects for investment sales, avoiding common pitfalls in preparing REAs, and utilizing best practices for updating existing REAs.

Description

REAs for retail and mixed-use projects create complicated contractual rights and obligations that impact the developer's, owner's, and retailer's ability to own, use, manage, sell, and finance property. Counsel must avoid pitfalls and conflicts to minimize disputes and operational problems when drafting or amending REAs.

Common elements of the agreements address critical business issues such as access, construction, shared parking, signage, and maintenance obligations. Other crucial terms include the process for amending the REA agreement and protection for the parties' lenders.

Retail development is transforming with the increase in demand for mixed-use projects and developers seeking opportunities to reconfigure obsolete space or rejuvenate older malls. This often requires updating and amending existing REAs or creating new ones.

Listen as our authoritative panel provides practitioners with a clear understanding of how to draft REAs for retail projects, how to avoid common drafting pitfalls, and how to amend existing documents.

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Outline

  1. Standard REA provisions
    1. Easements
    2. Maintenance and repair of common areas
    3. Alterations and building restrictions
    4. Covenants and use restrictions
  2. Operational and practical issues
    1. Parking
    2. Costs for maintenance and operation
    3. Developer rights
    4. Site plans
    5. Litigation issues
    6. Big box/anchor tenant issues
    7. Signage
    8. Bankruptcy
  3. REA redevelopment issues
    1. Amendments
    2. Easements and "cross-shopping"
    3. Use restrictions

Benefits

The panel will review these and other crucial issues:

  • The fundamental components of REAs for retail development and mixed-use developments
  • Costly drafting errors that counsel most commonly make when drafting REAs
  • How to draft, analyze, interpret, and amend existing REAs

Faculty

Boyle, Kathy
Kathleen D. Boyle
Counsel
Eversheds Sutherland

Ms. Boyle focuses her practice on leasing, development and redevelopment of retail, mixed use, office, warehouse and...  |  Read More

Spendlove, Gretta
Gretta C. Spendlove
Shareholder
Durham Jones & Pinegar

Ms. Spendlove practices in the DJP Real Estate Section, with a focus on real estate, corporate law, and business...  |  Read More

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