Net lease glossary
Exclusivity Clause
A lease provision that prevents the landlord from leasing other space in the same property or center to a competing business.
An exclusivity clause, or exclusive use provision, restricts the landlord from leasing nearby space it controls to a tenant with a competing use. For example, a coffee shop may get an exclusive on the sale of specialty coffee. Exclusives can be recorded in an REA and bind other parcels. Buyers of outparcels should check existing exclusives in the center, since they can limit the uses available if the property ever needs to be re-leased.