LA 673 Property Management Agreement For Corporate Affiliate Manager For Retail Strip Center Property Anchored By A Grocery Store
This management agreement is designed for a situation where the retail strip center to be managed is owned by a corporate affiliate of the manager. In this case, the neighborhood center is anchored by a grocery store tenant.
This management agreement provides for the payment of both management and leasing fees to the manager. The leasing fee is a percentage of the total rent payable under the leases for the center, excluding so-called additional rental payments, such as common area maintenance, real estate taxes, insurance charges and the like. The management fee is computed as a percentage of all rentals and additional rentals, plus a higher percentage of common area maintenance charges.
Number of Single Spaced Pages: 9
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