Feature
June 29, 2017
The point of negotiating a lease that’s favorable to you is to ensure that the terms you’re required to operate under allow you to use your space in a way that’s beneficial for your business. But if your business generates noise, plays loud music, attracts customer lines or crowds...
Negotiating Tips
June 29, 2017
Unless your business is located in an urban center near mass transportation, parking should be a major discussion during your lease negotiations. Without adequate parking at the property where you rent space, your store or office probably won’t survive. Many owners just designate an area...
Tenant Wins
June 29, 2017
Facts: A shopping center owner and a restaurant tenant signed a lease for a certain amount of space. Under the lease, the tenant was required to pay monthly rent consisting of two components. The first component, called “Minimum Rent,” involved a flat, base amount calculated on the...
Feature
May 31, 2017
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...
Negotiating Tips
May 31, 2017
You might think of tenant relocations as applying mostly to retail spaces. And relocations within malls and shopping centers are common because of lease rights that include tenants choosing which other particular tenants or types of tenants they want to be adjacent to or nearby in a center. If one...
Q & A
May 31, 2017
Q: The owner of the space I’m considering leasing wants me to provide a guaranty. I’ve found a guarantor, but I want to avoid giving the owner unfettered power and make sure the guarantor is protected. Otherwise, what incentive does it have to stand in for me? What are some common...
In the News
May 31, 2017
A new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate predicts that the U.S. economy and commercial real estate industry are, in general, expected to experience moderate growth through much of 2019. The ULI Real Estate Consensus Forecast,...
Feature
April 19, 2017
If your lease requires you to pay annual common area maintenance (CAM) costs or operating expenses based on estimates that the owner calculates at the beginning of the year, you should be aware that, although this seems like a simple process in theory, in practice there are many pitfalls for...
Traps to Avoid
April 19, 2017
If you are the assignee on a lease, you might move into the space thinking that everything is status quo and that the assignor was complying with the lease provisions. But it’s important to do your own due diligence, as much as possible, to determine whether there are violations that would...
Q & A
April 19, 2017
Q: A provision in my lease for space in a retail center specifies that I must fix any damage to the elevator that I use as part of my business. The owner recently discovered that the equipment has been damaged, and it sent me a notice to cure. However, I think the damage occurred before I moved...
