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Real Estate Law
My concern refers to Tenant's Proportionate Share calculation. I leased a retail space beside a film theater that

My question refers to the estimation of the Tenant's Proportionate Share. I have actually rented a retail area surrounding to a film theater, which is also the landlord. The theater uses approximately 90% of the mezzanine (the second floor of the building) for housing projectors and equipment to reveal films. In my industrial lease contract, the term "Tenant's Proportionate Share" defines the ratio of the Gross Leasable Area (GLA) of the Premises to the overall gross leasable area of finished structures in the Shopping Center. This omits any office used by the manager of the Shopping mall, mezzanine and/or basement areas not designated for retail purposes, and any outside seating areas or garden shops. Considered that the movie theater occupies about 90% of the mezzanine for its own industrial usage, should the property owner consist of or leave out the mezzanine in the GLA for the Common Area Maintenance (CAM) computation?

Real Estate Lawyer: Richard

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Commercial Lease Tenant's Proportionate Share Explained

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My question relates to the estimation of the Tenant's Proportionate Share. I have actually leased a retail space adjacent to a cinema, which is also the landlord. The theater makes use of roughly 90% of the mezzanine (the second flooring of the structure) for housing projectors and devices to show films. In my commercial lease contract, the term " Tenant's Proportionate Share " defines the ratio of the Gross Leasable Area (GLA) of the Premises to the overall gross leasable area of completed structures in the Shopping Center. This omits any office utilized by the manager of the Shopping Center, mezzanine and/or basement areas not designated for retail purposes, and any outside seating locations or garden shops. Considered that the theater inhabits about 90% of the mezzanine for its own industrial use, should the proprietor consist of or leave out the mezzanine in the GLA for the Common Area Maintenance (CAM) estimation?

Good afternoon. Yes, in this circumstance, you would require to consist of the mezzanine in the CAM computation considering that it is clearly being utilized for retail functions due to its connection to the theatre.

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