16 Sep COREA related New Residential Development within Shopping Center
MWH Law Group attorney assisted large, nationwide retailer client in negotiating with other national retailers to agree upon updated terms to a construction, operation and reciprocal easement agreement (COREA) and related governing documents to allow for a new residential development within the shopping center.
The construction, operation and reciprocal easement agreement (COREA) typically sets forth the terms and scope for the development and usage of commercial properties that are owned by more than one party, such as shopping centers or office parks. Generally, such agreements come into play when more than one owner of a property wishes to develop their property as a commercial center. COREAs for established shopping centers may have been drafted 50 or 60 years ago with multiple amendments, supplements, and changes in ownership. As the highest and best use for commercial real estate rapidly changes, our real estate clients (existing owners and developers) want to understand their rights and obligations related to redevelopment and use, particularly with respect to shopping centers and offices.
This article is a publication of MWH Law Group LLP and is intended to provide general information regarding legal issues and developments to our clients and other friends. It should not be construed as legal advice or a legal opinion on any specific facts or situations. For further information on your own situation, we encourage you to contact the author of the article or any other member of the firm.
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CONTACT ATTORNEY LINDSAY B. FATHALLAH
MWH Law Group attorney, Lindsay Fathallah, has significant experience and expertise in reviewing, analyzing, negotiating and advising clients on complex COREAs. Contact attorney Lindsay Fathallah to learn more about MWH Law Group’s Real Estate Practice.
Lindsay B. Fathallah
Senior Counsel, Milwaukee
735 N. Water Street, Suite 610, Milwaukee, WI 53202
P: (414) 436-0353 / F: (414) 436-0354
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