Feature

Demand That Owner Include Environmental Warranty in Your Lease

February 28, 2017    
Relying on oral assurances from the owner of your prospective commercial real estate space is risky. The consequences can range from you being aggravated—for example, if an adjacent tenant that was portrayed during negotiations as being quiet ends up compromising your right to quiet enjoyment...
Negotiating Tips

Push for Unusual Concessions During Negotiations

February 28, 2017    
Vacancy rates are still a struggle for shopping center and office building owners in some areas. Maybe the local economy isn’t robust and businesses aren’t interested in new office space, an owner’s projections for how much foot traffic a center will see were higher in theory than...
Plugging Loopholes

Set Reasonable Limits on Access and Alterations Right

February 28, 2017    
Most leases give the owner broad rights to alter or rearrange the building’s or center’s common areas, including entrances, passageways, corridors, doorways, stairs, elevators, and other public parts of the building or center. But while making such alterations, the owner may decide to,...
Q & A

Negotiating in an Uncertain Market

February 28, 2017    
Q: My business is expanding and has done well in what has become a “tenant’s market.” I worry that, given the current political climate, the market may become unsteady again. I’ll be looking at prospective retail spaces soon—how do I take advantage of this market when...
Tenant Wins

Tenant Entitled to Yellowstone Injunction While Awaiting Lease Decision

February 28, 2017    
Facts: A souvenir shop tenant’s lease that was signed in 2000 required it to provide an estoppel certificate to the owner of the building within 10 days. There was a dispute between the owner and tenant as to whether that version of the lease or a new lease that had been executed in 2013...
Feature

Focus on Buildout Provision When Negotiating for New Space

January 31, 2017    
Many times, office or retail spaces—and especially those that are in brand new office buildings or shopping centers—aren’t built out beyond being so-called “plain vanilla box spaces,” which typically include ceilings, lighting, plumbing, heating and cooling equipment (...
Plugging Loopholes

Include Three Requirements When Negotiating Lease’s Exclusive Use

January 31, 2017    
Typically, when a retail or restaurant tenant looks at prospective space in a shopping center, it wants to know about the other tenants. After all, synergy—the way that tenants’ uses work together to be beneficial for all of them—and competition are keys to success in that center...
Traps to Avoid

Avoid 'Promissory Estoppel' Claim for Prospective Space

January 31, 2017    
While touring office building or shopping center spaces, a tenant may get enthusiastic about a particular space or deal, and begin to talk about the property as though it’s already planning to move in. Tenants sometimes do this when they have competition and want the owner to keep them in...
Q & A

Draft Rights and Remedies into Lease for Property Under Construction

January 31, 2017    
Q: I signed a lease for space in a building that’s still under construction. The owner has run into financial trouble and is halting construction—even though the work has already started and several tenants have committed to leases, including handing over deposits and making...
Dos & Don'ts

Stay Out of Shadow of Other Tenant's Advertising

January 31, 2017    
Many commercial leases include language that limits the size of billboards and signage on the roof or exterior, or in the common areas of the office building or shopping center. But tenants sometimes forget to negotiate restrictions on the content of those billboards and signs. It’s a mistake...