Nicole Fry
Nicole is a sophisticated retail leasing attorney with more than 20 years of experience representing national and regional landlord and tenant clients nationwide. She is an experienced negotiator of anchor, in-line and outparcel leases and all their related documents.
Nicole has extensive experience representing landlords owning suburban, grocery anchored shopping centers, and in recent years, she has cultivated strong relationships with several institutional and merchant-builder landlords of mixed-use projects that combine residential, office, and retail uses. From developing retail lease forms to address the complexities of each mixed-use project to the successful negotiation of leases with a wide range of tenants, she has been intricately involved in the leasing of these projects from before construction begins to the opening and on-going operation of these projects. Nicole has also worked on a number of redevelopment projects with her clients that involved initial research to understand any restrictions on the redevelopment, reviewing and advising regarding declarations and restrictive easement agreements, and preparing leases that account for the need for future governmental approvals and possible alterations to the projects to obtain those approvals.
While Nicole has more often represented landlords, she has also represented rapidly expanding, regional and national tenants and finds that experience to be extremely valuable in understanding market dynamics and understanding which issues are most important to tenants and how to effectively negotiate them regardless of what side of the table she finds herself on.
In addition to drafting all types of lease documents, Nicole takes great pride in getting to know her clients and their businesses. By developing a deep understanding of each client’s operations and priorities, she is able to negotiate more effectively and efficiently with both internal stakeholders and opposing counsel, helping to streamline the leasing process. Her insight into each client’s key concerns allows her to stand firm on critical issues while identifying thoughtful compromises on others, enabling both sides to reach agreement more quickly. In a highly competitive market with sophisticated parties on all sides, these personal, long-term relationships are essential to building successful legal and business partnerships.
- Generational Differences with a Common Goal, 2025 ICSC Law Conference
- Franchisee/Franchisor Provisions: In the Landlord-Tenant Tango, Where Does Franchisor Cut in?, 2024 ICSC Law Conference
- Work Letters, Delivery Delays and Delivery Issues: We can work it out – In the lease or in the field, 2023 ICSC Law Conference
- Co-Tenancy – Is it the carrot, or the stick (of dynamite)…or both?, 2022 ICSC Law Conference
- Negotiated multiple grocery and movie theater anchor leases for mixed-use residential properties
- Negotiated multiple out-parcel and in-line leases for a national landlord for a complicated, redevelopment project
- Negotiated multiple anchor and in-line leases in connection with a new shopping center development
- Represented institutional and private landlords in connection with a multitude of anchor, junior anchor, and national tenant leases, including with Sprouts, Amazon Fresh, Live Nation, Alamo Theaters, Studio Movie Grill, CVS, Petco, Raising Cane’s, Starbucks, Chipotle, and Bank of America
- Successfully represented the landlord in the negotiation of the only known new movie theater lease completed in 2022
- Created various shortened form leases for national landlords to stream-line negotiations with tenants in their mixed-use projects
- ICSC
- Illinois
- District of Columbia
