Continuous Operation: 24-7 Or Bust

Print

Two words that strike the heart of man: Continuous Operation. Well, not all men’s hearts are at risk. Big strong ones can get away with stating, at the outset: “No, we won’t go there.” Weaker, but not weak ones, can offer a compromise, such as the one day trick pony. Sadly for the rest, the weakest, most vulnerable ones, they acquiesce.

To be fair, landlords don’t insist that a tenant be open and operating its business “during normal business hours,” for no good reason. There are a lot of good ones, and not just ones that directly benefit a landlord, such as optimizing percentage rent recovery from the burdened tenant. Business begets more business. Shopping centers that are “buzzing” with activity, ones that look like the place to be and be seen, draw customers; customers draw tenants and robust demand for leased space means higher rents (plus higher percentage rent recovery). [Read more…]

Print