Hendershott, Patric H; Ward, Charles W R - In: The Journal of Real Estate Finance and Economics 26 (2003) 2-3, pp. 223-40
We consider retail leases with landlord overages options, with tenant renewal options, with both and with neither. We illustrate how the ratio of initial expected sales to the sales threshold can be manipulated to equate the value of the landlord overage options to that of the tenant renewal...