Keep Recapture Option Flexible for Future Needs

Many leases will provide that if a tenant wants to assign the lease or sublease all or any portion of the space it leases, the owner will have the right to recapture—that is, take back—the space. In the context of an assignment, by which the tenant transfers to an assignee all of its rights under the lease and moves out of the space with no intent or obligation to return, this would mean a termination of the lease.

Full Article Access:

Full access to complete articles from Commercial Tenant's Lease Insider is for subscribers only.

Not yet ready to subscribe?