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Every time you lease space to a tenant, you incur opportunity costs to the extent a more desirable tenant in need of that same space turns up later. That’s why clauses allowing you to relocate tenants to comparable space within the shopping center or building can be extremely valuable. Relocation clauses also give you the flexibility you need to carry out property-wide renovations and maintain the optimal tenant mix. However, like any other lease provision, a relocation clause can blow up in your face if it’s not properly drafted.
