Attention:

Percentage Rent Provisions: What Works Today May Not Work Tomorrow


Level: Advanced
Runtime: 97 minutes
Recorded Date: April 19, 2017
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Agenda

  • What is percentage rent and why do landlords want it?
  • How can one define the tenant’s sales for purposes of percentage rent (what should be included and excluded?)
  • What are the requirements for recording, reporting and auditing tenant’s sales?
  • What is the impact of multi-channel retail sales on percentage rent and tenants’ use of stores?
Runtime: 1 hour and 37 minutes
Recorded: April 19, 2017

Description

This program will address the evolving role of percentage rent in a retail lease, with particular focus on the growth of multichannel retail sales, their impact on percentage rent, and the expectations of landlords and tenants regarding the use of stores to generate retail sales.

This program was recorded on April 19th, 2017.

Provided By

American Bar Association

Panelists

Rosie Rees

Real Estate Attorney

Rosie Rees is a Real Estate Attorney based in Chicago, IL.

Nadav Ravid

Managing Partner
Ravid Law Group

Nadav Ravid is Founder and Managing Partner of the Ravid Law Group and is recognized as one of the top real estate attorneys in the United States. Mr. Ravid represents landlords and tenants for publicly traded and privately held companies throughout North America. Clients include: Amorino Gelato, Balboa Ventura, Bank Hapoalim (OTCMKTS: BKHYY), Bank Leumi USA (OTCMKTS: BLMIF), Blue Jay Investors, Blue Ribbon Restaurants, Bonobos, Brookfield Properties (NYSE: BAM), The Cheesecake Factory (NASDAQ: CAKE), Dash Boutique, e.l.f. Cosmetics (NYSE: ELF), EVOQ Properties Inc., Eddie Bauer, Fernandez Holdings, Fossil (NASDAQ: FOSL), HCP, Inc. (NYSE: HCP), ivivva athletica, Levin & Mintz, lululemon athletica (NASDAQ: LULU), MAN Diesel and Turbo North America, Madison Shoes, Plaza Property Group, Robert Wayne Shoes, Roth Staffing Companies, Rouse Properties, Shoeteria, Stila Styles, sweetgreen, Tallulah and Westchester Medical Plaza.

Mr. Ravid focuses his practice on matters involving leasing, buying, selling, financing, and developing commercial real estate. He is a University of California, Los Angeles Extension Program instructor where he lectures on the subjects of leasing, buying and selling commercial real estate. He has and continues to lecture frequently on real estate topics for various organizations and companies including the American Bar Association, University of Southern California’s Master of Real Estate Development graduate program and the International Council of Shopping Centers. Past presentations include, Percentage Rent in the Age of Multi-Channel Retail Sales for the Emerging Issues and Specialty Leasing Committee of the American Bar Association, “Negotiating Complex Real Estate Transactions,” sponsored by Lorman Education Services, in-house presentations for Deloitte Financial Advisory Services, LLP, and seminars on the AIR leases and AIR purchase contracts for the Los Angeles County Bar Association. In 2012, Mr. Ravid was selected to serve as a mediator to resolve a lease dispute between a REIT landlord and an international retail tenant. Mr. Ravid was on the January 2013 cover of Los Angeles Lawyer Magazine. In 2014 and 2016, Mr. Ravid participated in the Georgetown Law School Advanced Commercial Leasing Institute.

Formerly, Mr. Ravid was a Shareholder at Buchalter Nemer in the firm’s Real Estate Practice Group in the Los Angeles office. During his tenure at Buchalter, Mr. Ravid was the Administrative Chair of the Real Estate Practice Group, and the former Co-Chair of the firm’s Recruiting Committee.

Mr. Ravid served as Chair of the Los Angeles County Bar Association General Real Property Subsection from 2008 to 2010 and the Leasing and Development Subsection from 2010 to 2014. He is Editor of the Dirt Report, a monthly newsletter that summarizes new cases and laws that impact the real estate industry.

He also served as a judicial extern to the Honorable Judge Diane Wayne of the Los Angeles Superior Court.

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