Case studies.

NNN Reconciliation and Expense Recovery, Discount Retail Tenant, Shopping Center

AMC Real Estate Investment Services was engaged after a discount retail tenant in a shopping center was not properly paying the landlord its NNN charges, including common area maintenance, real estate taxes, and insurance reimbursements.

The firm began by abstracting the leases. That review focused on the expense recovery clauses: which costs were recoverable, how the tenant’s pro-rata share was defined, whether recovery was subject to caps or exclusions, whether an administrative fee applied, and the timelines and procedures for annual reconciliation and audit. Those provisions established what the landlord was entitled to collect and how a claim had to be presented.

The team then reconciled the landlord’s books against invoices and the tenant’s payment history, comparing billed and paid amounts to the costs the leases allowed the landlord to recover. The reconciliation identified reimbursements that had not been billed or paid as the leases required.

The firm presented the documented reconciliation to the tenant. The work resulted in the recovery of over $60,000, which was wired to the landlord’s account.

Result. Over $60,000 in unpaid NNN charges recovered and wired to the landlord’s account.

Multi-Year Reimbursement Recovery, Big Box Retail Tenant

A big box retail tenant failed to reimburse certain costs that were reimbursable under its lease. AMC Real Estate Investment Services reviewed the lease’s reimbursement provisions to determine which expenses the tenant was obligated to pay and how those amounts were to be billed and recovered.

The review identified costs that were reimbursable under the lease but had never been billed or paid. The firm then rebuilt the multi-year history of those costs from the available records, documenting each element of the claim within the lease’s terms, including any notice, reconciliation, or recovery requirements that governed how far back amounts could be collected.

The work recovered more than six years of reimbursements for the landlord.

Result. More than six years of reimbursable costs recovered for the landlord.

Lease Restructuring and Extension, Title Lending Tenant, Southeast

AMC Real Estate Investment Services represented the landlord on a single-tenant title lending property in the Southeast as the lease approached expiration and the tenant prepared to exercise a short remaining renewal option. The tenant’s opening position sought to convert that short option into a modest extension while holding rent near the in-place rate, citing local market pressure. Left unchanged, the asset would have carried limited remaining term and constrained income growth, reducing both the buyer pool and financing flexibility.

The firm reviewed the lease stack, corrected building-size assumptions that understated rent on a per-square-foot basis, and benchmarked the rent against recent title lending sales. Advisors then led negotiations with the tenant’s corporate real estate team to replace the short option path with a newly exercised long-term extension: a full ten-year term commencing at the prior expiration, annual escalations after an initial flat period, and two additional five-year renewal options. In exchange for the rent step-up, the landlord granted a limited number of abated rent months early in the new term, structured so the tenant could clear internal approval while the landlord preserved a durable income stream.

The restructuring was designed around saleability and refinance readiness. Extending term from a short remaining horizon to a decade of firm occupancy, with options beyond that, materially improves how lenders and net lease buyers underwrite credit-tenant retail. The new rent reflected a roughly thirty percent increase over the then-current annual rent, paired with ongoing annual escalations. The amendment was fully executed in late September 2026 after landlord e-signature and tenant corporate approval.

Result. The landlord secured a new ten-year term with escalations and two five-year options, converted a near-term option exercise into a long-duration corporate occupancy, and positioned the asset for a broader buyer and lender audience than the prior short-term structure would have allowed.