Acquisition and development of retail real estate has long been the epicenter of our Retail practice. However, in today’s technology-driven world, we understand that transition and redevelopment of outdated income producing properties are critical to the long-term success of our industry. We assist clients of all sizes in acquiring, developing, transitioning and disposing of retail assets across all classes of assets, using a practical, business-minded and efficient approach. In connection with transactions, our lawyers further assist with the creation and structuring of investment vehicles, including providing tax structuring, investment and financing guidance so as to maximize the opportunity for positive returns on each individual transaction.
In addition to assisting clients with acquisition of existing, cash-flowing assets of all shapes and sizes across all markets (nationally, and in some circumstances, internationally), our Acquisition, Disposition and Development practice includes:
- Mall/Shopping Center Redevelopment: We often assist clients in purchasing local and regional malls and shopping centers which may be past their prime, whether due to changing retail trends, market demographics or unknown reasons, but are constructed on well-positioned real estate. From the initial letter of intent, through contract negotiation/execution, diligence and finally, closing, we assist clients each step of the way in such complex transactions, often including (re)negotiation of cross easements and operational covenants, lease restructurings and cancellations, coordination of constructing phasing and analysis of complex co-tenancy issues.
- Ground-Up Development. Contrary to some reports, ground-up development of retail projects continues across the country in areas of need of certain product/service offerings, including grocery, childcare and restaurants. Our Retail team remains committed to being experts in such ground-up developments and has some of the most experienced attorneys in the nation at quarterbacking such transactions, from the date of initial acquisition, throughout the financing, leasing and development process and ultimately through final disposition.
- “Triple Net” Investments: We recognize the unique asset class of “triple net”/stand-alone investments and the nuances which are required in order to enable such deals to enable maximum returns. We also have significant experience in understanding the interplay of such “triple net” investments with surrounding properties, avoiding potential issues which might otherwise arise upon disposition of the property.
- Construction Contracts and Development Agreements: Our lawyers have a high level of familiarity with the AIA form construction contracts as well as the ability to craft highly-customized construction contracts and development agreements so as to address our clients’ specific needs for each project.
- Entity Structuring, Equity Raising and Finance: Our Retail team’s expertise does not stop with the “dirt” transaction. To the contrary, we have some of the most experienced corporate and finance attorneys in the region, many of whom have previously worked at firms in the largest legal markets in the world. Whether a small equity raise or the formation of a blind pool fund for portfolio investment and development, we regularly provide structuring, tax, regulatory and financial guidance to our clients so as to maximize returns and each partner’s investment goals.