The Town of Burlington Massachusetts

 

Burlington is a town in Middlesex County, Massachusetts. Though it is widely believed that Burlington takes its name from the English town of Bridlington, Yorkshire, this has never been confirmed. It was first settled in 1641 and was officially incorporated in 1799. Several of the early homesteads, such as the Francis Wyman House (dating from 1666) are still standing.

Burlington is now a suburban industrial town at the junction of the Boston-Merrimack corridor. For most of its history, however, it was almost entirely agricultural, selling hops and rye to Boston and supplementing that income with small shoe-making shops. Early railroad expansion passed the town by (although the town was serviced by the Middlesex Turnpike), limiting its early development but this picture changed dramatically as soon as Route 128 was built. The highway kicked off an enormous expansion. Between 1955 and 1965, Burlington was the fastest growing town in the entire state.

Situated in northeastern Massachusetts, Burlington is bordered by Bedford on the west, Billerica on the northwest, Wilmington on the northeast, Woburn on the southeast and south and Lexington on the south. Burlington is 12 miles (19 km) south of Lowell, 12 miles (19 km) northwest of Boston and 224 miles (360 km) from New York City. The largest body of water is the 500-million-US-gallon (1,900,000 m3) Mill Pond Reservoir in the eastern part of the town.

 

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J. Butler Property Management, LLC. : Burlington, Massachusetts

Elsewhere on this website, it was mentioned that an experienced commercial property manager (who also functions as the leasing agent) realizes the importance of the strategy behind how to negotiate the best possible deal for the client, the landlord, in lease negotiations. Retailers may negotiate to cancel their lease if their sales fall below their projections. This is an added concern for retailers who are leasing space in a weak shopping center or mall (or at times when the economy itself is weak). The retailer may also ask for a co-tenancy provision as a cancellation right. This allows the tenant to cancel a lease if a specific anchor tenant goes out of business or if the overall occupancy of a shopping center drops below a specific percentage. This is another provision that should be resisted, as it could create a domino effect with regard to loss of tenants. If the property owner must agree to this provision, one counter would be to have the tenant’s lease convert to percentage rent only during the time the anchor tenant’s space is vacant. Just because one anchor tenant closes does not mean the other retailer’s sales will decline. There can also be a condition to the effect that a tenant may not exercise its rights under the co-tenancy provision unless its sales decline exceeds ten percent. In a weak market, tenants will ask for the moon. Knowing the cost to the landlord of each negotiated lease provision is what enables the property manager and leasing agent to negotiate the best possible deal.