Negotiating and Drafting Office Leases

Transcription

1 NEWLY UPDATED BOOK! Negotiating and Drafting Office Leases by John Busey Wood and Alan M. Di Sciullo Save 25% Use promo code when ordering to receive your discount. The first treatise that a leasing pro will refer to for explanation of new and difficult issues as well as a refresher on issues that have not recently been encountered. James S. Saunders, Esq., Senior Managing Director, Newmark Knight Frank 120 Broadway, 5th floor New York, NY

2 Negotiating and Drafting Office Leases by John Busey Wood and Alan M. Di Sciullo Whether you are a tenant or landlord a certified public accountant or an attorney representing either side you need to be thoroughly prepared for the entitlements and commitments a lease can contain. Negotiating and Drafting Office Leases, by John Busey Wood and Alan M. Di Sciullo, is an invaluable reference for corporate real estate executives and professionals, property managers, owners, builders, investment analysts, real estate brokers, CPA s indeed, for anyone concerned with commercial leasing. According to Mr. Wood, the Father of the Modern Killer Lease Form (1984, Wall Street Journal) the lease form has become a multi-dimensional extreme sport of theft by lease with hidden costs, imbedded profits and clauses of formulatic greed. Practical guidance for handling every contingency Negotiating and Drafting Office Leases provides complete coverage of the issues that can arise when negotiating a lease. You ll find extensive coverage of assignment and subleasing, as well as leasing issues that most standard forms tend to omit or not adequately cover invaluable in any negotiation. Extensive description of green provisions examine them both from the landlord s and tenant s perspective. Included are detailed checklists on so-called silent issues with guidance and suggestions for both tenants and landlords. You ll also benefit from nearly 100 time-saving sample forms such as these: A tenant s proposal letter (with detailed analysis of its components) An adjustment of rent clause A sublease agreement A good guy clause A lease modification agreement Provisions addressing force majeure events, entitlement to rent abatement, and coverage in the case of casualty or destruction A telecommunications license agreement Expert commentary on killer leases Negotiating and Drafting Office Leases analyzes the killer lease that can shift the landlord s costs and risks to the tenant. Filled with tested lease clauses taken from complex killer lease transactions, it helps level the playing field by showing tenants how to protect their interests. You ll find discussion of: Definitions clauses illustrating the complex drafting technique referred to as pyramiding Remedies and damages clauses that maximize the benefit of the bargain in the event of tenant default Landlord access clauses Tenant s proportionate share clauses demonstrating creative ways to utilize space measurements to affect share Services and operating cost escalation clauses Tenants alteration clauses strictly drafted to require broad landlord approval Tenant audit rights with sample clauses Building safety issues and insurance coverage, including mold damage and liability The impact of bankruptcy on guaranties Due diligence Wood and Di Sciullo examine each clause in detail, alerting you to the legal and financial consequences, provide practice tips and hidden cost identification, including for the first time in print, the neutering of the Killer Lease of 1984! Filled with insights and advice on hidden pitfalls and negotiating strategies, Negotiating and Drafting Office Leases will return its cost to you many times over. [An] extraordinary treatise... The real value of this book is in its practical evaluation of lease provisions, the motivations of the parties, and the reasonable (and unreasonable) positions that parties to a lease often take. Prof. Daniel Bogart, Chapman University School of Law, and Prof. Celeste Hammond, John Marshall School of Law, in Commercial Leasing: A Transactional Primer

3 Summary of Contents for Negotiating and Drafting Office Leases CHAPTER 1 Office Lease Fundamentals CHAPTER 2 Who Is the Landlord and Who Is the Tenant? CHAPTER 3 The Leased Premises CHAPTER 4 The Lease Terms CHAPTER 4A Security Deposits and Other Forms of Security CHAPTER 5 Preparing the Premises for Occupancy CHAPTER 6 Landlord Access CHAPTER 7 Area CHAPTER 8 Use CHAPTER 9 Appurtenances CHAPTER 10 Repairs and Maintenance CHAPTER 11 Condemnation and Destruction CHAPTER 12 Alteration CHAPTER 13 Compliance with Laws CHAPTER 13A Green Provisions in Leases CHAPTER 14 Conditions of Limitation and Defaults CHAPTER 15 Reentry by Landlord CHAPTER 16 Services CHAPTER 16A Telecommunications Licenses and Leases in Commercial Properties CHAPTER 17 Electricity CHAPTER 18 Custom of Dealing, Waivers and Modifications CHAPTER 19 Rent CHAPTER 20 Superior Interests CHAPTER 21 Transferability of Leasehold Interests CHAPTER 22 The Covenant of Quiet Enjoyment CHAPTER 23 Restrictive Clauses CHAPTER 24 Renewals and Options CHAPTER 25 Casualty and Insurance CHAPTER 26 Work Letters CHAPTER 27 Financing Real Estate Development Through Participation Leases CHAPTER 27A Synthetic Lease Transactions and Off-Balance Sheet Financing CHAPTER 28 Bankruptcy CHAPTER 28A Can You Draft a Fair Lease? CHAPTER 28B Tenant s Checklist of Silent Lease Issues (Second Edition) CHAPTER 28C Landlord s Checklist of Silent Lease Issues (Second Edition) Save 25% Negotiating and Drafting Office Leases, regularly $339, is now $ when you enclose payment with your order or use your credit card you save 25%! Use promo code when ordering to receive your discount. We will add shipping and handling to all credit card orders. For orders paid by check, add 12% to the pre-tax discounted price for shipping and handling. Phone, fax, visit us online at or mail in your order today! #00624; looseleaf, two volumes, approximately 2,000 pages and one CD-ROM; published in 1995, updated as needed. Your purchase price includes the cost of all previous updates and any updates that may be issued within three months of your order. ISBN: About the Authors of Negotiating and Drafting Office Leases John Busey Wood, Esq. is a Partner in the New York City office of Thompson & Knight, LLP, Certified Public Accountant, and a Class A New York State and Florida commerical real estate broker. He is a member of the American Arbitration Association Commercial Neutral Panel and a Fellow of the American Bar Association Foundation. Mr. Wood has authored a number of books and publications including Navigating the Dangerous Shoals of a Commercial Lease and chairs the Practicing Law Institute Commercial Leasing Panel Programs nationally for over a decade. Mr. Wood counsels international and US based retail tenants and corporate property owners and lessees on cost reduction and safe leasing. The Wall Street Journal called him The Father of the Modern Killer Lease Form and The New York Times noted that he negotiated the largest ground lease of its kind ever in New York City. Mr. Wood received his MBA in accounting from the University of Kansas and is AV rated by Martindale-Hubbell. Alan M. Di Sciullo, Esq. is the Director of Global Real Estate at Shearman & Sterling LLP and Professor of Real Estate at New York University s Masters Program in Real Estate. Formerly he was Senior Vice President at Citigroup Realty Services and First Vice President at Morgan Stanley, where he handled leasing and corporate real estate transactions. He served as Chair of the ABA s Office Leasing Committee and its Assignment and Subleasing committee. Mr. Di Sciullo is a member of the American College of Real Estate Lawyers (ACREL) and is AV rated by Martindale-Hubbell.

4 CHAPTER 29 Negotiating the Lease CHAPTER 29A Lease Brokerage CHAPTER 30 Subleasing CHAPTER 31 Must a Commercial Landlord Act Reasonably When Responding to a Tenant s Assignment or Subletting Request? CHAPTER 32 Preparing for an Effective Subleasing Program While Negotiating the Lease CHAPTER 33 Leases v. Licenses CHAPTER 34 The Killer Lease: What It Is and Why It Exists Appendices Glossary Index For a detailed table of contents, go to the most up-to-date source for publications from Law Journal Press. Save 25% on this related book from Law Journal Press Real Estate Financing by Brook Boyd The first and most complete guide to real estate financing! Featuring more than 40 deal-specific checklists and more than 50 annotated programmed forms on disk, Real Estate Financing is designed to help you handle virtually any transaction, from complex loan workouts to simple residential closings. FORMS ON CD ROM Written for the busy professional, this volume provides in-depth explanations of the issues along with the forms you need to draft working documents quickly. Featuring separate variations for lender, borrower and other parties, the programmed forms provide information about each term and how it can be modified. The forms work with virtually all leading word processing and document assembly programs simply fill out the computer-ready Data Input Sheet and merge your deal terms into the forms with a few simple commands. Detailed checklists highlight deal terms, flag risks and hot issues, and direct users, through crossreferences, to alternative approaches and analyses. Checklists include: loan modifications, consolidations and extensions securitizations wraparound mortgage loans deeds in lieu and consensual foreclosures subordinations participations loans secured by condos, co-ops and time shares installment sales sale-leasebacks sales of mortgage loans contingent interests and equity kickers Mr. Boyd is Special Counsel to the New York firm of Windels Marx Lane & Mittendorf, LLP. Real Estate Financing, regularly $269, is now $ when you enclose payment with your order or use your credit card you save 25%. Use promo code when ordering to receive your discount. We will add shipping and handling to all credit card orders. For orders paid by check, add 12% to the pre-tax discounted price for shipping and handling. #00639; looseleaf, one volume, approximately 900 pages and one CD-ROM; published in 1997, updated as needed. Your purchase price includes the cost of all previous updates and any updates that may be issued within three months of your order. ISBN:

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