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OnDemand Course

Outparcel Development Fundamentals

Understand what needs to occur for a successful outparcel development.

Adding outparcels or pads to a retail project can add significant monetary value to the development, particularly with respect to under-utilized parking areas and other land. End users often prefer acquiring an outparcel in an established retail center over developing a standalone site or purchasing or leasing land as part of a new development. (Problem) The ability, however, of an owner to ultimately sell or lease an outparcel, or an end user to use an outparcel successfully, usually depends on a variety of factors that must be understood and properly analyzed, such as the ability of the end user to obtain necessary governmental approval and permits for its intended use, the ability of the end-user or owner to obtain any necessary third-party approvals, the state of title to the outparcel, as well as the right to use other portions of the retail center or project in which the outparcel is located. (Solution) This topic will assist legal counsel and others involved with, or who want to be involved with outparcel development, to understand what needs to occur for a successful outparcel development. This content will focus on (i) how to conduct due diligence; (ii) permitting issues; seeking and obtaining third party approvals under project documents, anchor tenant leases, and easement agreements for the end user's business; and (iii) negotiating key provisions in purchase agreements and ground leases for outparcel development. Additionally, this topic will offer suggestions for developing retail and mixed used projects in a manner that will help facilitate the sale or ground leasing of outparcels without unnecessary or unexpected delays or costs.

Runtime: 86 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Why Outparcel Development Is Currently Prevalent
  • What Constitutes an Outparcel?
  • Types of Outparcel Transactions
  • Key Players for Outparcel Transactions

Tips for Enhancing the Value of Outparcels in New Development

  • Make Each Outparcel a Legal Lot
  • Provide for Flexibility
  • Limit Third Party Approval Rights
  • Use Restrictions to the Extent Reasonably Possible
  • Limit the Scope of Control or Protection Area
  • Make Future Development Not Overly Difficult
  • Project Documents
  • Require Each Parcel Within the Overall Center to Self-Park

Key Provisions in Outparcel Ground Leases and Purchase Agreements With End-Users

  • Inspection Period/Feasibility Contingency
  • Permit Period/Governmental Approvals Contingency
  • Closing Conditions/Delivery Requirements
  • Common Area Maintenance Responsibility
  • Common Area Control
  • Use Rights, Restrictions and Exclusives
  • Responsibility for Hazardous Substances
  • Signage

Due Diligence, Governmental Entitlements and Permitting for Outparcels

  • Site Review
  • Title Reports and Surveys
  • Environmental and Soils Review
  • Determining Compliance
  • Governmental Entitlements and Permits

Third Party, Non-Governmental Restrictions and Approvals

  • Approving Parties
  • Types and Forms of Approvals Required
  • Obtain All Required Approvals or Move Forward Without
  • Do the Approving Parties Have to Be Reasonable?
  • Obtaining Third Party Approvals Under Project Documents
  • Supplemental Declarations (in Lieu of Amending Project Documents)
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on January 23, 2018.

Call 1-866-352-9540 for further credit information.

  • AIA 1.25
     
  • Lorman Education Services is a registered provider of AIA-approved continuing education under Provider Number J2016. This course is approved for 1.25 Learning Unit hour(s). Prerequisite: None, Program Level: Intermediate: Advanced Preparation: None All registered AIA CES Providers must comply with the AIA Standards for Continuing Education Programs. Any questions or concerns about this provider or this learning program may be sent to AIA CES ([email protected] or (800) AIA 3837, Option 3). This learning program is registered with AIA CES for continuing professional education. As such, it does not include content that may be deemed or construed to be an approval or endorsement by the AIA of any material of construction or any method or manner of handling, using, distributing, or dealing in any material or product. AIA continuing education credit has been reviewed and approved by AIA CES. Learners must complete the entire learning program to receive continuing education credit. AIA continuing education Learning Units earned upon completion of this course will be reported to AIA CES for AIA members. Certificates of Completion for both AIA members and non-AIA members are available upon request.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael Di Geronimo

Michael Di Geronimo

Miller Starr Regalia

  • Partner in the law office of Miller Starr Regalia
  • Has more than 25 years of experience representing property owners, developers and financial institutions in a variety of transactions
  • Regularly retained to assist clients interested in obtaining land use entitlements for retail and other commercial projects
  • Has been an expert witness for retail lease matters in both federal and state court
  • Significant experience in representing financial institutions with disputes arising from secured loans and troubled assets
  • Frequent speaker and has written numerous publications
  • J.D. degree, University of California, Los Angeles School of Law; B.A. degree, University of California, Berkeley
  • Can be contacted at [email protected] or 925-941-3247
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399212
Published 2018
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