Sep
08

Retail Landlords and Tenants Need To Adopt a Joint View of Success

By
– Retail Traffic

For JMW Development LLC, the renegotiation request came rather unexpectedly. The Minneapolis-based real estate development firm had been working with discount retailer Target for several years on its Commerce Hill project in Woodbury, Minn. The chain was scheduled to open a 185,000-square-foot Super Target as the anchor for the 289,564-square-foot mixed-use center some time in 2010.

But at the beginning of July, out of the blue, Target informed JMW that it would not be able to inhabit the project unless it could rework the terms of its lease.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://retailtrafficmag.com/management/leasing/0908-landlords-tenants-cooperation/

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