Ground Leasing From a Municipality for Retail Development

Originally published 2^nd Quarter 2005

Retail development can be an impetus to the revitalization of commercial neighborhoods, particularly in the Northeast where cities and towns are trying to focus on older urban centers. Finding sites for retail stand-alone stores can, however, be particularly difficult in these typically dense urban areas where individual parcels are unavailable for development or parcels that are available are insufficient in size to support the needs of standardized store units. Opportunities do exist, however, to partner with municipalities in harnessing town or city-owned land as part of a revitalization effort. Often these opportunities occur not in the main business centers or commercial streets, but in smaller neighborhood shopping districts.