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Real Estate Law
My question relates to Tenant's Proportionate Share estimation. I rented a retail space next to a cinema that

My question relates to the estimation of the Tenant's Proportionate Share. I have rented a retail area surrounding to a cinema, which is also the property manager. The theater utilizes roughly 90% of the mezzanine (the 2nd flooring of the structure) for housing projectors and equipment to reveal films. In my agreement, 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 excludes any office utilized by the manager of the Shopping Center, mezzanine and/or basement areas not designated for retail purposes, and any outdoor seating locations or garden shops. Given that the cinema inhabits about 90% of the mezzanine for its own industrial usage, should the property manager include or exclude the mezzanine in the GLA for the Common Area Maintenance (CAM) calculation?

Real Estate Lawyer: Richard

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Commercial Lease Tenant's Proportionate Share Explained

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My question relates to the calculation of the Tenant's Proportionate Share. I have actually leased a retail area nearby to a theater, which is also the landlord. The theater makes use of roughly 90% of the mezzanine (the second flooring of the building) for housing projectors and devices 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 completed buildings in the Shopping Center. This excludes any office utilized by the manager of the Shopping mall, mezzanine and/or basement locations not designated for retail purposes, and any outside seating locations or garden shops. Considered that the cinema 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) estimation?

Good afternoon. Yes, in this scenario, you would need to include the mezzanine in the CAM calculation considering that it is plainly being used for retail functions due to its connection to the theatre.

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