When tenants rent retail space in a shopping center, they typically have an agreement with the owner that they will pay a rental rate determined by the square footage of the space they are leasing. Tenants renting retail space usually also pay fees to cover common areas of the center, such as the cleaning crew and parking light lighting. Some retail space leases also require the tenant to pay a percentage of their gross sales to the landlord and may be responsible for a portion of the property taxes. If the retail space is inside a mall, the lease might also charge fees for signs, maintenance of common areas and for deliveries.
Shopping Center LeaseTravis Tollefsen2011-11-03T19:57:40+00:00