Fun With Percentage Rental Clauses
by Stuart Lautin, Esq.
In 1993, Ralphs Grocery Company signed a 20-40 year lease with Midtown Shopping Center Associates for 53,000 square feet in a Los Angeles shopping center. Under the lease, Ralphs is required to pay an annual base rental rate of almost $1 million per year, plus 1.25% of gross sales over $31 million.
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Stuart A. Lautin, Esq.* Counsel to NTCAR
Higier Allen & Lautin, PC
5057 Keller Springs Road, Suite 600, Addison Texas 75001
P: 972.716.1888 | E: email@example.com | W: www.higierallen.com
* Board Certified, Commercial (1989) and Residential (1988) Real Estate Law, Texas Board of Legal Specialization
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