Retail properties are often valuable investments that need to be protected in the event of a storm, fire, water loss or other damage. Owners of retail properties can include developers, investors, real estate investment trusts, grantor trusts, and business owners small and large. Our firm has commercial lease attorneys skilled in property damage coverage that have handled retail center claims that include strip centers, shopping malls, stand-alone retail buildings, box buildings and other centers ranging in size from small shops to large urban malls.
Damage to a retail building or center can increase an owners repair costs, drive tenants away, lower rents and capitalization rates, even impact loan covenants with lenders. That is why retail center owners need to count on their insurance company to protect their investment when it is damaged. If an insurance company fails to do so, retail center owners need to act quickly to protect their own investment, even if that means engaging the insurance company in litigation.
The retail center claims we have handled include developments with tenants ranging from national retail chains down to single proprietor shops. Raizner Slania has handled damage claims to retail centers and buildings involving:
Tenants of retail centers have claims when their inventory, property and interior and exterior build outs are damaged. Business interruption and lost rent claims can also be significant when a retail shop, center or mall is damaged. Damage results in lost tenants, lost rental income and for business owners lost sales.
Business owners can buy commercial property damage coverage whether they own a building, or lease space as a tenant. Quite often, they pay for insurance coverage to protect their assets and gain valuable peace of mind. Property insurance may protect the business from losses related to company property, buildings, and other assets. Commercial insurance covers property such as buildings, office furniture and machinery. Businesses will find their offices severely interrupted due to a fire or natural disaster and yet their insurer choose to delay, deny or attempt to make an underpay on their claims for property damage, lost revenue, equipment and inventory, and other business claims.
Many of our clients tell us they have never had to or wanted to ever file a lawsuit. We understand these concerns, and handle the litigation as efficiently, professionally and aggressively as possible to achieve the results our clients need in the promptest amount of time. Raizner Slania has commercial lease attorneys that will aggressively fight the insurance companies if your claim was delayed, denied or underpaid to get your retail business back in track. Call Raizner Slania today for a free consultation to see if you have a case against your insurance company.