Retail
Retail properties and strip centers are valuable assets and investments that must be protected from natural disasters, storms, water loss, floods, tornados, and other damages. Retail property and strip centers’ owners may include real estate investment trusts (REITs), developers, grantor trusts, investors, and private business owners large and small.
Mindiola Law Firm’s commercial lease lawyers have deep experience in property damage claims and coverage. We’ve handled numerous retail properties and strip centers’ claims, including shopping malls, box buildings, individual retail properties, and other centers of all sizes—from small single boutiques to sprawling urban shopping centers and malls.
Commercial Retail Property Investments
Damage to retail buildings and centers may dramatically increase owners’ maintenance and repair costs, lower rent values or capitalization rates, frighten potential tenants, discourage current tenants from renewing a lease or even affect lenders’ loan covenants with the owners or investors.
If a commercial insurance company doesn’t provide its legal duty to the insured, owners of retail properties and strip centers must act quickly to safeguard, salvage and protect the investment asset if damaged. When a trusted commercial insurance company fails to keep its part of the insurance contract bargain, retail properties and strip centers’ owners must act immediately to protect the investment—even if it means engaging the bad faith insurer in litigation.
Retail Center and Strip Malls Damage Claims
Our law firm has handled many retail center claims, from national retail chains with tenants to single owner retail businesses. Mindiola Law Firm has managed commercial damage claims for retail properties and strip centers’ damage claims resulting from:
- Hurricane damage
- Tornado damage
- Fire damage
- Windstorm damage
- Flood damage
Retail center tenants file commercial damage claims when exterior or interior build outs, inventory, or property are damaged. The tenant may need to file a lost rent or business interruption claim if the retail properties, mall, or retail center is damaged. Lost sales, tenants, and rental income may also result from commercial property damage.
Should Retail Property and Strip Mall Owners Purchase Commercial Property Insurance?
Real estate properties are high-value assets. A real estate property business owner may purchase commercial property and casualty damage insurance if it owns a building or leases space from an owner as a tenant. The business owner may pay for expensive commercial property insurance coverage to protect is valuable assets and acquire necessary peace of mind.
The decision to purchase commercial property insurance may also protect the enterprise from losses relating to buildings, company property, or other portfolio assets. Commercial insurance for retail properties and strip mall owners typically covers building structures, machinery, office furnishings, and so on.
Business interruption of the insured may occur after a natural disaster, hurricane, or fire. If the commercial property insurance company chooses to delay, reject, or attempt to pay the property damage claim for less than its actual value, the insured may face additional property damages and lost revenues.
Insurers and Potential Legal Conflicts
Some law firms have client relationships with commercial insurance companies. These law firms have conflicts of interest because, as long as the firm is retained by the insurer, it can’t defend retail properties and strip malls harmed by their client.
Mindiola Law Firm works only for commercial customers of the insurance company. No bad faith insurer is off limits. Our experienced insurance claims attorneys based in Houston TX manage cases involving major insurers across the U.S., including international insurers with operations in the United States.
Success Against Bad Faith Insurance Schemes
Although the commercial insurance company continues to get smarter and tougher, we work to stay ahead of them. Mindiola Law Firm has successfully worked against most commercial insurance schemes. We know what to expect from bad faith insurance companies so you don’t need to devise new steps to get your commercial real estate property claims paid.
Contact our commercial real estate dispute claims attorneys now. We will professionally fight your insurance company if a valid claim was underpaid, delayed or denied. Mindiola Law Firm is here to protect your retail business and get things back on track. Call us at now to discuss your potential case against a commercial insurance company.