KEY LEASING ISSUES A Tenant's Perspective

Size: px
Start display at page:

Download "KEY LEASING ISSUES A Tenant's Perspective"

Transcription

1 KEY LEASING ISSUES A Tenant's Perspective Andy Jacobson Maslon LLP March 7, 2017

2 TERMINOLOGY & STATE LAW "Standard" Leases? Elements of Real Estate Law are State and Local Specific Terms of Art v. Legal Terms Gross Lease Triple Net Lease Vanilla Shell Pro Rata Share / Gross Up

3 FUNDAMENTAL OBJECTIVES Landlord Project Control & Net Operating Income Economics (Net Effective Rent & NOI) Ability to Sell and Finance Control Use (Tenant Mix / Operating Covenants) Recourse & Credit Enhancement Limit Liability

4 FUNDAMENTAL OBJECTIVES Tenant Flexibility & Cost / Risk Control Stable Economics (Emulate Gross Rent) Flexibility of Use Obligations (v. Costs) Transfer Rights (Assignment and Subletting) Limit Liability

5 Rent Base Rent TI Allowance / Free Rent Adjustments (CPI / Set Escalator / FMRV) Percentage Rent CAM / Operating Expenses Real Estate Taxes and Assessments Insurance Costs Tenant's Pro Rata Share

6 Premises Precise Space / Substitution Leasable Area (USF/RSF) Remeasurement Parking Rights & Key Common Areas Relocation

7 Term Contingencies Delivery & Outside Delivery Date Term Commencement v. Rent Commencement Partial Lease Years & Partial Calendar Months

8 Improvements & TI Allowance Landlord's Work v. Tenant's Work Amount and Timing of TI Allowance Landlord Control and Oversight Fees Nonpayment of TI Allowance Impact of TI Allowance on Extension Rent

9 Repairs & Maintenance Scope of Obligations Capital / Structural Items Compliance with Laws Hazardous Materials Surrender & Deconstruction

10 Transfers by Tenant Types of Potential Transfers Assignment Sublease License / Concession Change of Control Consent Standard Reasonable Prior? Landlord Safe Harbors

11 Transfers by Tenant Expressly Permitted Transfers Parent / Subsidiary / Affiliates Mergers & Spinoffs Sale of Assets Sale or Transfer of Stock Recapture Bonus Rent / Consideration Landlord Fees and Timing

12 Defaults & Remedies Categories of Tenant Default Notice and Cure Periods Softening Remedies No Self Help Rent Acceleration Mitigation Landlord Liens Recapture of Inducements

13 Defaults & Remedies Guarantees Hard Cap Burn Off / Burn Down Sunset Defenses of Tenant Landlord Defaults Notice and Cure Periods Limitations on Tenant Remedies Limitations on Landlord Liability Lender Rights

14 Special Rights Renewal / Extension Expansion / Contraction Exclusive Use Rights Early Termination Purchase Option Additional TI Allowance Note: Beware of conditions placed on special rights or special rights that are "personal" to the original tenant.

15 SUBLEASING ISSUES Tenant/Sublandlord Perspective Maximize Flow Down from Lease Landlord Consent Coordinate Sublease and Lease Defaults Existence of Sublease Linked to Lease Included FF&E

16 SUBLEASING ISSUES Subtenant Perspective Limit Flow Through from Lease Gross Rent Necessary Consents from Landlord and Lender Nondisturbance Protection from Landlord Right to Pursue Landlord

17 ESTOPPEL CERTIFICATES A Tenant's Perspective Factual Snapshot Unilateral Document Who Can Rely? Knowledge Standard Inconsistencies with Lease Accommodating Landlord

18 SUBORDINATION (SNDAs) A Tenant's Perspective Address Tenant's Obligations in Lease Overreach by Lenders / Shift of Risk Lender Notice and Cure Rights Lender Consent and Approval Rights

19 ANDY JACOBSON p ANDREW N. JACOBSON is a partner in Maslon's Real Estate Group. His practice covers a broad range of commercial real estate issues, with a particular focus in commercial and retail/restaurant leasing, land use, telecommunications as well as design and construction-related agreements. Andy is also a licensed architect and practiced as such prior to attending law school. He is a frequent author and speaker on real estate subjects and teaches Real Estate Transactions at the University of St. Thomas School of Law.

NAVIGATING EVERYDAY LANDLORD/TENANT ISSUES IN COMMERCIAL LEASES

NAVIGATING EVERYDAY LANDLORD/TENANT ISSUES IN COMMERCIAL LEASES NAVIGATING EVERYDAY LANDLORD/TENANT ISSUES IN COMMERCIAL LEASES OFFICE vs. RETAIL Many similar issues, including operating expense considerations, Landlord consent rights and tenant inducements but usually

More information

Issues To Consider ForThe G rowing Tenant (With S ample Clauses)

Issues To Consider ForThe G rowing Tenant (With S ample Clauses) Issues To Consider ForThe G rowing Tenant (With S ample Clauses) Linda D. White Linda D. White is a member of the firm of S onnenschein Nath & Rosenthal LLP, in Chicago. A commerciallease should change

More information

Demystifying the Commercial Lease Agreement Scott M. Brasil

Demystifying the Commercial Lease Agreement Scott M. Brasil Demystifying the Commercial Lease Agreement Scott M. Brasil MAY 19, 2017 TOPICS 1. The Commercial Lease Agreement 2. Common Clauses 3. Other Important Lease Provisions 4. Questions 1 The Commercial Lease

More information

Stuck In the Middle:

Stuck In the Middle: Stuck In the Middle: The Upside and Downside of Being a Sublandlord David J. Weiner Liskow & Lewis 1001 Fannin, Suite 1800 Houston, Texas 77002 HBA Real Estate Section January 20, 2016 Introduction Sublease

More information

Welcome. Primer program Please review the additional materials It has a LOT of additional detail, samples and links to other materials

Welcome. Primer program Please review the additional materials It has a LOT of additional detail, samples and links to other materials Welcome Primer program Please review the additional materials It has a LOT of additional detail, samples and links to other materials There are many kinds of leases Single and multi-tenant office Single

More information

6 Model Leasehold Mortgagee Protections (Maximum) TABLE OF CONTENTS I. DEFINITIONS LOSSES AND LOSS PROCEEDS A. Prompt Notice B. Casualty C.

6 Model Leasehold Mortgagee Protections (Maximum) TABLE OF CONTENTS I. DEFINITIONS LOSSES AND LOSS PROCEEDS A. Prompt Notice B. Casualty C. 6 Model Leasehold Mortgagee Protections (Maximum) TABLE OF CONTENTS I. DEFINITIONS II. LOSSES AND LOSS PROCEEDS A. Prompt Notice B. Casualty C. Substantial Condemnation D. Insubstantial Condemnation E.

More information

A checklist of issues to look out for in analyzing office leases

A checklist of issues to look out for in analyzing office leases Form: Checklist for Office Leases Description: A checklist of issues to look out for in analyzing office leases CHECKLIST FOR OFFICE LEASES 1. Space (a) (b) (c) (d) What is the rentable square footage?

More information

LEASE FOR SUPERMARKET PREMISES LOCATED IN BETWEEN AS LANDLORD AND SHAW'S SUPERMARKETS, INC. AS TENANT DATED:,

LEASE FOR SUPERMARKET PREMISES LOCATED IN BETWEEN AS LANDLORD AND SHAW'S SUPERMARKETS, INC. AS TENANT DATED:, Construction by Tenant (with Delivery of Pad by Landlord); Multi- Tenant; Percentage Rent LEASE FOR SUPERMARKET PREMISES LOCATED IN BETWEEN AS LANDLORD AND SHAW'S SUPERMARKETS, INC. AS TENANT DATED:, INDEX

More information

Ancillary Agreements in Real Estate Transactions Andrew R. Berman, Barry A. Hines, and Everett S. Ward 1

Ancillary Agreements in Real Estate Transactions Andrew R. Berman, Barry A. Hines, and Everett S. Ward 1 Ancillary Agreements in Real Estate Transactions Andrew R. Berman, Barry A. Hines, and Everett S. Ward 1 A. Introduction This article discusses certain ancillary but important documents in the context

More information

Reviewing Accommodative Easements: Helping Your Client Do a Favor without Causing Harm (with Sample Inserts)

Reviewing Accommodative Easements: Helping Your Client Do a Favor without Causing Harm (with Sample Inserts) Reviewing Accommodative Easements: Helping Your Client Do a Favor without Causing Harm (with s) Andy Jacobson Andy Jacobson is a partner in the Real Estate Group at Maslon LLP in Minneapolis, Minnesota.

More information

Lease Summary Chart Critical Deadlines

Lease Summary Chart Critical Deadlines Lease Summary Chart Critical Deadlines Building Address: Unit: Documents Summarized: Date: [REDACTED] 1 st Floor of Building Lease Agreement between [REDACTED]. TBD Lease Provision Description Citations

More information

A lease may be written or verbal.

A lease may be written or verbal. Leases 1 A lease may be written or verbal. 2 The property owner is called the landlord (lessor). 3 The landlord retains a leased fee estate. 4 The landlord also has a reversionary estate. 5 The tenant

More information

CONSTRUCTION AND LEASE AGREEMENT STREET. by and between., as Landlord. and., as Tenant. Dated as of,

CONSTRUCTION AND LEASE AGREEMENT STREET. by and between., as Landlord. and., as Tenant. Dated as of, SAMPLE Ground Lease Institutional Landlord Negotiated Form CONSTRUCTION AND LEASE AGREEMENT STREET by and between, as Landlord and, as Tenant Dated as of, CONSTRUCTION AND LEASE AGREEMENT TABLE OF CONTENTS

More information

OREGON STATE BAR REAL ESTATE LAND USE 2013 SUMMER CONFERENCE PRACTICAL TIPS FOR NEGOTIATING LEASES. Friday, August 9, 2013: 1:15pm Breakout Session

OREGON STATE BAR REAL ESTATE LAND USE 2013 SUMMER CONFERENCE PRACTICAL TIPS FOR NEGOTIATING LEASES. Friday, August 9, 2013: 1:15pm Breakout Session OREGON STATE BAR REAL ESTATE LAND USE 2013 SUMMER CONFERENCE PRACTICAL TIPS FOR NEGOTIATING LEASES Friday, August 9, 2013: 1:15pm Breakout Session Bradley S. Miller Kelly A. Struhs Ball Janik LLP I. Delivery

More information

Definitions. CPI is a lease in which base rent is adjusted based on changes in a consumer price index.

Definitions. CPI is a lease in which base rent is adjusted based on changes in a consumer price index. Annualized Rental Income is rental revenue under our leases on Operating Properties on a straight-line basis, which includes the effect of rent escalations and any tenant concessions, such as free rent,

More information

VIA . August 31, Mr. Bud O Connor Senior Director Marc Reality 55 East Jackson Blvd. Suite 500 Chicago, IL 60604

VIA  . August 31, Mr. Bud O Connor Senior Director Marc Reality 55 East Jackson Blvd. Suite 500 Chicago, IL 60604 VIA EMAIL August 31, 2017 Mr. Bud O Connor Senior Director Marc Reality 55 East Jackson Blvd. Suite 500 Chicago, IL 60604 Re: Chicago Classical Academy ( Tenant ) 2545 South Martin Luther King Jr., Drive

More information

Top Leasing Tips for Corporate Space Tenants

Top Leasing Tips for Corporate Space Tenants Top Leasing Tips for Corporate Space Tenants By Jonathan Lee, CCIM Tenant Rep Broker Contact Telephone 843 991 4848 Email JonathanLee@ChoiceRealtyUSA.com Money Matters Advisory Team Member on WSC 94.3FM

More information

Reviewing a Commercial Lease: A Practical Guide for the General Practitioner

Reviewing a Commercial Lease: A Practical Guide for the General Practitioner Reviewing a Commercial Lease: A Practical Guide for the General Practitioner Andrew D. Weisblatt Richard D. Nguyen THE WEISBLATT LAW FIRM, L.L.C. Katy, Texas February 28, 2017 An investment in knowledge

More information

Commercial Lease Due Diligence in Real Estate Acquisitions: Key Issues and Best Practices

Commercial Lease Due Diligence in Real Estate Acquisitions: Key Issues and Best Practices Presenting a live 90-minute webinar with interactive Q&A Commercial Lease Due Diligence in Real Estate Acquisitions: Key Issues and Best Practices Analyzing Buildout Obligations, Termination Rights, Purchase

More information

Commercial Real Estate Terminology

Commercial Real Estate Terminology Commercial Real Estate Terminology I. Rent Information p.1 II. Building Class p. 2 III. Miscellaneous p. 3 IV. Legal p. 9 I. RENT INFORMATION Absolute Net - Lease requiring tenant to pay in addition to

More information

TAX ALERT. Master tenant HTC transactions: IRS treatment of 50(d) income

TAX ALERT. Master tenant HTC transactions: IRS treatment of 50(d) income AUG. 2, 2016 Mark Snider 614.227.2510 msnider@porterwright.com Master tenant HTC transactions: IRS treatment of 50(d) income Dave Tumen 614.227.2260 dtumen@porterwright.com The historic tax credit industry

More information

Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance

Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance Presenting a live 90-minute webinar with interactive Q&A Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance Drafting and Negotiating SNDA Agreements

More information

THIS COMMUNITY LAND TRUST GROUND LEASE RIDER (the Rider ) is made this day of,, and amends and supplements a certain ground lease (the CLT Ground

THIS COMMUNITY LAND TRUST GROUND LEASE RIDER (the Rider ) is made this day of,, and amends and supplements a certain ground lease (the CLT Ground Form 490 Community Land Trust Ground Lease Rider THIS COMMUNITY LAND TRUST GROUND LEASE RIDER (the Rider ) is made this day of,, and amends and supplements a certain ground lease (the CLT Ground Lease

More information

SELECTED LEASING ISSUES

SELECTED LEASING ISSUES SELECTED LEASING ISSUES By Scott B. Osborne Preston Gates & Ellis, LLP 925 Fourth Avenue, Suite 2900 Seattle, Washington 98104 206 623-7580 scotto@prestongates.com Prepared for AMERICAN ASSOCIATION OF

More information

The Value of a Master Lease

The Value of a Master Lease The Value of a Master Lease January 05, 2009 In today's economic climate, commercial real estate owners are finding themselves forced to creatively position their properties to entice buyers or satisfy

More information

REAL ESTATE LEASE ACCOUNTING

REAL ESTATE LEASE ACCOUNTING REAL ESTATE LEASE ACCOUNTING WHAT CHANGES UNDER ASC 842 2017 LeaseAccelerator Inc. Page 1 REAL ESTATE LEASE ACCOUNTING KEY POLICY ELECTIONS MARK KOPPERSMITH & SCOTT SILVER Defining Asset Classes Asset

More information

Commercial Lease Provisions. June 23, 2010 New York, New York

Commercial Lease Provisions. June 23, 2010 New York, New York Commercial Lease Provisions June 23, 2010 New York, New York Protecting the Landlord Against Mechanics Liens Filed by the Tenant s Contractors The Law State lien law statutes enable a tenant to pledge

More information

Lease Guaranties: Assignments, Releases, Waivers and Related Issues

Lease Guaranties: Assignments, Releases, Waivers and Related Issues Lease Guaranties: Assignments, Releases, Waivers and Related Issues Daniel Goodwin & Jenny Teeter Gill Elrod Ragon Owen & Sherman, P.A. Little Rock, Arkansas Introduction The economic downturn has resulted

More information

Community Land Trust Ground Lease Rider

Community Land Trust Ground Lease Rider Community Land Trust Ground Lease Rider [For use with CLT ground leases substantially based on either the Institute for Community Economics or the National Community Land Trust Network model ground lease

More information

Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance

Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance Presenting a live 90-minute webinar with interactive Q&A Subordination, Non-Disturbance and Attornment Agreements in Commercial Leasing and Real Estate Finance Drafting and Negotiating SNDA Agreements

More information

Structuring Financeable Ground Leases and Leasehold Mortgages

Structuring Financeable Ground Leases and Leasehold Mortgages Presenting an encore presentation featuring live Q&A Structuring Financeable Ground Leases and Leasehold Mortgages Balancing Competing Interests Among Owners, Lessees and Lenders THURSDAY, NOVEMBER 30,

More information

Commercial Sub-Lease Agreement

Commercial Sub-Lease Agreement Commercial Sub-Lease Agreement THIS SUBLEASE AGREEMENT is entered into on, 20 by and between, a [STATE] [CORPORATION, PARTNERSHIP, SOLE PROPRIETORSHIP, ETC.] ("SUBLESSOR ), with an address of, and, a [STATE]

More information

RESIDENTIAL HOUSE LEASE AGREEMENT

RESIDENTIAL HOUSE LEASE AGREEMENT RESIDENTIAL HOUSE LEASE AGREEMENT This Residential House Lease Agreement ("Lease") is made and effective this 0/0/0000 by and between [Landlord] and ("Tenant," whether one or more). This Lease creates

More information

Master Leases: A Guaranty Substitute or the Gift that Keeps On Taking?

Master Leases: A Guaranty Substitute or the Gift that Keeps On Taking? THE UNIVERSITY OF TEXAS SCHOOL OF LAW Presented: 48th Annual William W. Gibson, Jr. Mortgage Lending Institute September 18-19, 2014 Austin, Texas October 2-3, 2014 Dallas, Texas Master Leases: A Guaranty

More information

Commercial Tenant Representation Glossary

Commercial Tenant Representation Glossary Commercial Tenant Representation Glossary Absolute Net - Lease requiring tenant to pay in addition to base rent all costs associated with the operation, repair and maintenance of the building, all real

More information

Broker. Investment Real Estate. Chapter 15. Copyright Gold Coast Schools 1

Broker. Investment Real Estate. Chapter 15. Copyright Gold Coast Schools 1 Broker Chapter 15 Investment Real Estate Copyright Gold Coast Schools 1 Learning Objectives Matching an investor with the right property Evaluating the sites and improvements of income properties Determining

More information

Negotiating a Commercial Lease

Negotiating a Commercial Lease SCORE Chapter One Washington DC Metro Area washingtondc.score.org 202-619-1000 SCORE Services SCORE, a national, non-profit Association with over 13,000 volunteers in 364 chapters, is a resource partner

More information

YOU RE GROUNDED : ADDRESSING FINANCING ISSUES RELATED TO GROUND LEASES. Joe M. Doren P:

YOU RE GROUNDED : ADDRESSING FINANCING ISSUES RELATED TO GROUND LEASES. Joe M. Doren P: YOU RE GROUNDED : ADDRESSING FINANCING ISSUES RELATED TO GROUND LEASES Joe M. Doren E:jdoren@fbtlaw.com P: 502-779-8597 LEASES- WHAT IS A GROUND LEASE? Ground Lease v. Space Lease. Common Characteristics

More information

ALI-ABA Course of Study Modern Real Estate Transactions. July 25-28, 2007 San Francisco, California. Big Box Leasing - Questions and Answers

ALI-ABA Course of Study Modern Real Estate Transactions. July 25-28, 2007 San Francisco, California. Big Box Leasing - Questions and Answers 1971 ALI-ABA Course of Study Modern Real Estate Transactions July 25-28, 2007 San Francisco, California Big Box Leasing - Questions and Answers By Richard R. Goldberg Ballard Spahr Andrews & Ingersoll,

More information

Commercial Lease Agreement

Commercial Lease Agreement Commercial Lease Agreement This Commercial Lease Agreement (Lease) is entered into on this day of, 20, by and between (Landlord) and (Tenant). Landlord is the owner of land and improvements whose address

More information

Leasing and Lease Form. Leasing and Lease Forms. Title Issues [p. 751] Ground Lease

Leasing and Lease Form. Leasing and Lease Forms. Title Issues [p. 751] Ground Lease Leasing and Lease Forms Residential: negotiation from standard form lease (provided by L) is nonexistent Commercial: No standard lease (term variation) In some cases, T may control form Market conditions

More information

Drafting and Negotiating Commercial Leases. John H. Hawthorne Partner, Protorae Law PLLC June 1, 2015

Drafting and Negotiating Commercial Leases. John H. Hawthorne Partner, Protorae Law PLLC June 1, 2015 Drafting and Negotiating Commercial Leases John H. Hawthorne Partner, Protorae Law PLLC June 1, 2015 Drafting and Negotiating Commercial Leases Introduction to Drafting Commercial Leases Lease Provisions

More information

OFFICE LEASE. By Richard R. Goldberg Ballard Spahr Andrews & Ingersoll, LLP Philadelphia, Pennsylvania All Rights Reserved 1999 AGREEMENT OF LEASE

OFFICE LEASE. By Richard R. Goldberg Ballard Spahr Andrews & Ingersoll, LLP Philadelphia, Pennsylvania All Rights Reserved 1999 AGREEMENT OF LEASE OFFICE LEASE By Richard R. Goldberg Ballard Spahr Andrews & Ingersoll, LLP Philadelphia, Pennsylvania All Rights Reserved 1999 AGREEMENT OF LEASE THIS AGREEMENT OF LEASE is made this day of 199_ by and

More information

Gross Up Provisions in Commercial Lease Agreements: Guidance for Landlords and Tenants Structuring Terms to Balance Benefits and Mitigate Risks

Gross Up Provisions in Commercial Lease Agreements: Guidance for Landlords and Tenants Structuring Terms to Balance Benefits and Mitigate Risks Presenting a live 90 minute webinar with interactive Q&A Gross Up Provisions in Commercial Lease Agreements: Guidance for Landlords and Tenants Structuring Terms to Balance Benefits and Mitigate Risks

More information

Drafting a Commercial Lease Agreement Appendix A 5 Leases

Drafting a Commercial Lease Agreement Appendix A 5 Leases Drafting a Commercial Lease Agreement Appendix A 5 Leases M&A TRANSACTION Lease 1 The Tenant will not assign this Lease in whole or in part nor sublet all or any part of the Leased Premises, nor mortgage

More information

, as Grantor (Borrower) -to-, as Beneficiary (Lender) ASSIGNMENT OF LEASES AND RENTS. Dated: As of May, Address:, California

, as Grantor (Borrower) -to-, as Beneficiary (Lender) ASSIGNMENT OF LEASES AND RENTS. Dated: As of May, Address:, California , as Grantor (Borrower) -to-, as Beneficiary (Lender) ASSIGNMENT OF LEASES AND RENTS Dated: As of May, 2000 Address:, California County: Monterey After recording, please return to: Tax Account No.: File

More information

Space No.: MANUFACTURED HOME SPACE LEASE AGREEMENT

Space No.: MANUFACTURED HOME SPACE LEASE AGREEMENT Community: Space No.: Street or P.O. Box : MANUFACTURED HOME SPACE LEASE AGREEMENT This Lease Agreement ( Agreement ) is made and executed by and between ( Lessor ) and ( Lessee ) on this day of, 20. Lessor

More information

INDUSTRIAL LEASE. between. THE COUNTY OF SAN MATEO, as Tenant. and. RAISER RESOURCES, LLC AND DELUNA INVESTMENTS, LLC as Landlord.

INDUSTRIAL LEASE. between. THE COUNTY OF SAN MATEO, as Tenant. and. RAISER RESOURCES, LLC AND DELUNA INVESTMENTS, LLC as Landlord. INDUSTRIAL LEASE between THE COUNTY OF SAN MATEO, as Tenant and RAISER RESOURCES, LLC AND DELUNA INVESTMENTS, LLC as Landlord For the lease of A portion of 1700 Industrial Road San Carlos, California June

More information

Historic Tax Credit Presentation Date: March 22, 2016

Historic Tax Credit Presentation Date: March 22, 2016 Historic Tax Credit Presentation Date: March 22, 2016 Today s Presenter(s): Lynn Wickham Hartman (319) 896-4083 lhartman@simmonsperrine.com Matthew J. Hektoen (319) 896-4030 mhektoen@simmonsperrine.com

More information

2017 Law Offices of Young, Minney & Corr, LLP. Alternatives to Leases: Facilities Use Agreements

2017 Law Offices of Young, Minney & Corr, LLP. Alternatives to Leases: Facilities Use Agreements How to Get the Best Deal: Negotiating Facility Leases and Facility Use Presented by: Jerry W. Simmons, Esq. jsimmons@mycharterlaw.com Sarah J. Kollman, Esq. skollman@mycharterlaw.com Understanding the

More information

Best Practices for Lease Negotiations -/) -

Best Practices for Lease Negotiations -/) - Best Practices for Lease Negotiations -/) - Pacific Workplaces, a 16 center, California-based workspace and coworking provider, is pleased to share with the members of the Global Workspace Association

More information

BENNETT VALLEY LAW

BENNETT VALLEY LAW BENNETT VALLEY LAW REAL ESTATE TOPICS September 29, 2013 COMMERCIAL LEASING CHECKLIST (Office Lease Tenant Oriented) The following checklist addresses many common issues which arise in negotiating an office

More information

LEASE AGREEMENT Premises Rent

LEASE AGREEMENT Premises Rent LEASE AGREEMENT THIS LEASE is made this day of, 201_, by and between, (hereinafter Landlord ), a notfor-profit corporation (hereinafter, X and, (hereinafter Tenant ). 1. Premises. Landlord leases to Tenant,

More information

Commercial Lease Agreement

Commercial Lease Agreement Commercial Lease Agreement This Commercial Lease Agreement ("Lease") is made and effective [Date], by and between [Landlord] ("Landlord") and [Tenant] ("Tenant"). Landlord is the owner of land and improvements

More information

Office Tenant s Pre-Signing Checklist

Office Tenant s Pre-Signing Checklist Resource ID: 2-505-1724 Office Tenant s Pre-Signing Checklist ROBERT J. KRAPF, RICHARDS, LAYTON & FINGER, P.A., WITH PRACTICAL LAW REAL ESTATE Search the Resource ID numbers in blue on Westlaw for more.

More information

ARKANSAS COMMERCIAL LEASE AGREEMENT

ARKANSAS COMMERCIAL LEASE AGREEMENT ARKANSAS COMMERCIAL LEASE AGREEMENT This Commercial Lease Agreement ("Lease") is made and effective [Date], by and between [Landlord]("Landlord") and [Tenant] ("Tenant"). Landlord is the owner of land

More information

Chapter EVICTION CONTROL ON RESIDENTIAL PROPERTY IN FORECLOSURE Sections: FOOTNOTE(S): --- (3) ---

Chapter EVICTION CONTROL ON RESIDENTIAL PROPERTY IN FORECLOSURE Sections: FOOTNOTE(S): --- (3) --- Chapter 7.105 - EVICTION CONTROL ON RESIDENTIAL PROPERTY IN FORECLOSURE Sections: FOOTNOTE(S): --- (3) --- Editor's note Ord. No. 34-09 N.S., 2, adopted Oct. 20, 2009, repealed the former Ch. 7.105, 7.105.010

More information

CALIFORNIA RESIDENTIAL LEASE AGREEMENT

CALIFORNIA RESIDENTIAL LEASE AGREEMENT CALIFORNIA RESIDENTIAL LEASE AGREEMENT This Residential Lease Agreement (hereinafter Lease ) is entered into this the day of, 20, by and between the Lessor:, (hereinafter referred to as Landlord ), and

More information

Considerations for New York City Commercial Leases

Considerations for New York City Commercial Leases Considerations for New York City Commercial Leases CLIENT ALERT October 2, 2017 Rachel A. Mynhier mynhierr@pepperlaw.com This article was published in the Fall 2017 issue of Real Estate Finance Journal.

More information

Assignment of Leases and Rents

Assignment of Leases and Rents Assignment of Leases and Rents This ASSIGNMENT OF LEASES AND RENTS (this Assignment ) is given as of the day of, 20 by ( Assignor ) to ( Assignee ). RECITALS A. Assignor is the owner of the real property

More information

will not unbalance the ratio of debt to equity.

will not unbalance the ratio of debt to equity. paragraph 2-12-3. c.) and prime commercial paper. All these restrictions are designed to assure that debt proceeds (including Title VII funds disbursed from escrow), equity contributions and operating

More information

Structuring Financeable Ground Leases and Leasehold Mortgages

Structuring Financeable Ground Leases and Leasehold Mortgages Presenting an encore presentation featuring live Q&A Structuring Financeable Ground Leases and Leasehold Mortgages Balancing Competing Interests Among Owners, Lessees and Lenders THURSDAY, NOVEMBER 30,

More information

THIS IS A SAMPLE OF A LEASE AGREEMENT. YOU SHOULD CONSULT AN EQUINE ATTORNEY IN YOUR OWN STATE FOR A PERSONALIZED AGREEMENT SPECIFIC TO THE TERMS OF YOUR LEASE PARTIES. January 1, 2014-January 1, 2015

More information

Legal Alert: Significant Tenant Lease Provisions

Legal Alert: Significant Tenant Lease Provisions April 11, 2013 Legal Alert: Significant Tenant Lease Provisions You spend days, weeks, or maybe even months negotiating an office or storefront lease and one day the broker sends you the lease asking you

More information

Title Insurance & Leasehold Estates By: Yosi (Joe) Benlevi VP & Senior Underwriting Counsel

Title Insurance & Leasehold Estates By: Yosi (Joe) Benlevi VP & Senior Underwriting Counsel By: Yosi (Joe) Benlevi VP & Senior Underwriting Counsel Title Insurance and Leasehold Estates a short history The 1975 leasehold policy Covers for increased cost of leasing an alternate space and limited

More information

Minimizing And Allocating Expenses In Commercial Leases (With Forms)

Minimizing And Allocating Expenses In Commercial Leases (With Forms) Minimizing And Allocating Expenses In Commercial Leases (With Forms) Cathy M. Rudisill Never leave doubt about the party responsible for expense items under a lease. Cathy M. Rudisill is a partner in Nelson

More information

Hunting Lease Agreement. Sample Preview

Hunting Lease Agreement. Sample Preview Hunting Lease Agreement Date: Landlord: Landlord's Address: Tenant: Tenant's Address: Premises: SURFACE ONLY of approximately [number] acres of land, situated in [county] County, (State), as described

More information

COMMERCIAL SUBLEASE AGREEMENT. (the "Sublandlord") - AND - (the "Subtenant")

COMMERCIAL SUBLEASE AGREEMENT. (the Sublandlord) - AND - (the Subtenant) COMMERCIAL SUBLEASE AGREEMENT THIS SUBLEASE dated this BETWEEN: (the "Sublandlord") OF THE FIRST PART - AND - (the "Subtenant") OF THE SECOND PART Background A. This is an agreement (the "Sublease") to

More information

MODEL LEASEHOLD MORTGAGEE PROTECTIONS AMERICAN COLLEGE OF REAL ESTATE LAWYERS

MODEL LEASEHOLD MORTGAGEE PROTECTIONS AMERICAN COLLEGE OF REAL ESTATE LAWYERS MODEL LEASEHOLD MORTGAGEE PROTECTIONS Prepared by Joshua Stein for AMERICAN COLLEGE OF REAL ESTATE LAWYERS 1999 ANNUAL MEETING The following model document is provided with no guarantee or warranty at

More information

Exhibit D: Sample City s Sublease Agreement

Exhibit D: Sample City s Sublease Agreement Exhibit D: Sample City s Sublease Agreement Draft: FOR DISCUSSION PURPOSES ONLY SUBLEASE between THE CITY AND COUNTY OF SAN FRANCISCO as Sublandlord and, a as Subtenant for a non-demised portion of the

More information

for the term of to commence and to end,

for the term of to commence and to end, Lease Agreement This agreement, made on, between (your name) as Landlord and as Tenant(s), witnesses that the Landlord has agreed to LET to the Tenant, and the Tenant has agreed to TAKE from the Landlord

More information

Sole Reality: Everyday Footwear Is Worldwide Business. Executive Director s Message page 2. Reviewing Subordination and Nondisturbance Agreements

Sole Reality: Everyday Footwear Is Worldwide Business. Executive Director s Message page 2. Reviewing Subordination and Nondisturbance Agreements Sole Reality: Executive Director s Message page 2 Everyday Footwear Is Worldwide Business Member Profile: page 8 For Retailers and Office Tenants Exploring Occupancy Cost Overcharges page 3 Reviewing Subordination

More information

Landlord is the owner of land and improvements commonly known and numbered as. (address) and

Landlord is the owner of land and improvements commonly known and numbered as. (address) and KENTUCKY COMMERICAL LEASE AGREEMENT This Commercial Lease Agreement ( Lease ) is made and effective this day of, 2, by and between ( Landlord ) and ( Tenant ). Landlord is the owner of land and improvements

More information

ISSUES RELATING TO COMMERCIAL LEASING. CANADA - QUEBEC Blake, Cassels & Graydon LLP

ISSUES RELATING TO COMMERCIAL LEASING. CANADA - QUEBEC Blake, Cassels & Graydon LLP ISSUES RELATING TO COMMERCIAL LEASING CANADA - QUEBEC Blake, Cassels & Graydon LLP CONTACT INFORMATION James Papadimitriou Blake, Cassels & Graydon LLP 600 Maisonneuve Boulevard Suite 2200 Montreal, Quebec

More information

Assignments Pro Tanto, And Why To Avoid Them

Assignments Pro Tanto, And Why To Avoid Them Assignments Pro Tanto, And Why To Avoid Them Thomas C. Barbuti Sublease? Assignment? Assignment pro tanto? Maybe a sublease or an assignment, but an assignment pro tanto is an invitation to fracture occupancy

More information

The rental levels will be based upon contract rent for the leases in place and is provided below:

The rental levels will be based upon contract rent for the leases in place and is provided below: PROJECT 1: TWIN PINES FINANCIAL DATA Leases The potential income relates to rentals being obtained from tenants occupying space in the project. A current rent roll was provided, and it is assumed that

More information

Subleasing as an Extreme Sport: when things go wrong. By: Karen Samuels Jones, Esq. Perkins Coie LLP

Subleasing as an Extreme Sport: when things go wrong. By: Karen Samuels Jones, Esq. Perkins Coie LLP Subleasing as an Extreme Sport: when things go wrong By: Karen Samuels Jones, Esq. Perkins Coie LLP ksamuelsjones@perkinscoie.com In the first 2 parts of this presentation, you learned the special due

More information

2005 ELA Accounting Conference

2005 ELA Accounting Conference 2005 ELA Accounting Conference HOT TOPICS: LESSEE ISSUES Kimber Bascom Randy Green Bob Keyes KPMG Deloitte & Touche USBancorp 212-909-5664 203-761-3574 415-925-4713 Agenda FSP FAS 13-b EITF 05-06 Lessee

More information

COMMERICAL LEASE AGREEMENT DISCLAIMER:

COMMERICAL LEASE AGREEMENT DISCLAIMER: COMMERICAL LEASE AGREEMENT DISCLAIMER: Prior to using this Sample Commercial Lease Agreement form, the Kentucky Real Estate Commission strongly advises that the parties consult with their attorneys. Commercial

More information

Retail and Shopping Center Acquisitions: Negotiating the Purchase and Sales Agreement, Conducting Legal Due Diligence

Retail and Shopping Center Acquisitions: Negotiating the Purchase and Sales Agreement, Conducting Legal Due Diligence Presenting a live 90-minute webinar with interactive Q&A Retail and Shopping Center Acquisitions: Negotiating the Purchase and Sales Agreement, Conducting Legal Due Diligence THURSDAY, AUGUST 18, 2016

More information

Rehabilitation Tax Credits

Rehabilitation Tax Credits Rehabilitation Tax Credits Selected Issues in Master Lease Pass-Through Transactions Steven L. Paul Nicholas Romanos February 1, 2010 REHABILITATION TAX CREDITS Selected Issues in Master Lease Pass-Through

More information

CERTIFIED RETAIL REAL ESTATE PROFESSIONAL EXAM SPECIFICATIONS OUTLINE

CERTIFIED RETAIL REAL ESTATE PROFESSIONAL EXAM SPECIFICATIONS OUTLINE CERTIFIED RETAIL REAL ESTATE PROFESSIONAL EXAM SPECIFICATIONS OUTLINE The CRRP Task Force, a representative panel of subject matter experts with global practice experience, developed the CRRP content specifications

More information

Purchase and Sale Agreements

Purchase and Sale Agreements Purchase and Sale Agreements and Leases: A Framework for Review and Analysis Presented by: Christopher J. Vaughn Carruthers & Roth, P.A 235 North Edgeworth Street Greensboro, NC 27401 CJV@CRLAW.com 336

More information

ARENA MANAGEMENT, OPERATIONS, AND LEASE AGREEMENT

ARENA MANAGEMENT, OPERATIONS, AND LEASE AGREEMENT between CITY OF SACRAMENTO and SACRAMENTO DOWNTOWN ARENA LLC Dated as of: May 20, 2014 TABLE OF CONTENTS Page LIST OF EXHIBITS AND SCHEDULES... vii BACKGROUND... 1 1. Lease and Grant of Use; Reservation

More information

Tenant s Form Subordination, Non-Disturbance, and Attornment Agreement

Tenant s Form Subordination, Non-Disturbance, and Attornment Agreement Tenant s Form Subordination, Non-Disturbance, and Attornment Agreement THIS AGREEMENT is made as of the day of, 20, by and among [Name of Landlord / Address of Landlord] ( Landlord ), [Name of Tenant /

More information

TIDELANDS AND MARINA LEASE. CITY OF ALAMEDA, a California municipal corporation. PACIFIC SHOPS, INC., a California corporation, Dated:, 2012

TIDELANDS AND MARINA LEASE. CITY OF ALAMEDA, a California municipal corporation. PACIFIC SHOPS, INC., a California corporation, Dated:, 2012 TIDELANDS AND MARINA LEASE by and between CITY OF ALAMEDA, a California municipal corporation as Landlord, and PACIFIC SHOPS, INC., a California corporation, as Tenant, Dated:, 2012 Alameda Marina Tidelands

More information

CONSTRUCTION AGENCY AGREEMENT. dated as of March 1, between. BA LEASING BSC, LLC, as Lessor, and

CONSTRUCTION AGENCY AGREEMENT. dated as of March 1, between. BA LEASING BSC, LLC, as Lessor, and EX-10.1 2 nsconstructionagmt-030519.htm CONSTRUCTION AGENCY AGREEMENT EXECUTION VERSION CONSTRUCTION AGENCY AGREEMENT dated as of March 1, 2019 between BA LEASING BSC, LLC, as Lessor, and NORFOLK SOUTHERN

More information

Lesson 11: Property Management 1 of Property Management. Real Estate Principles of Georgia. Property Management

Lesson 11: Property Management 1 of Property Management. Real Estate Principles of Georgia. Property Management Real Estate Principles of Georgia Lesson 11: Property Management 1 of 67 275 Property Management Property management: Non-owner supervises operation of income property in exchange for fee. Many brokerages

More information

Xerox and Beyond: Merger Agreement Provisions in Acquisition Financing

Xerox and Beyond: Merger Agreement Provisions in Acquisition Financing Xerox and Beyond: Merger Agreement Provisions in Acquisition Financing November 1, 2011 10/16/2013 Xerox and Beyond: Merger Agreement Provisions in Acquisition Financing 1 Xerox and Beyond: Merger Agreement

More information

August 6, Ground Sub-Leases for Parcels 3, 6, and 9, Vince Whibbs, Sr. Community Maritime Park, proposed by Studer Community Investments

August 6, Ground Sub-Leases for Parcels 3, 6, and 9, Vince Whibbs, Sr. Community Maritime Park, proposed by Studer Community Investments Jessica C. Andrade Russell A. Badders Mary Jane Bass James S. Campbell Jodi D. Cooke J. Nixon Daniel III John P. Daniel Terrie L. Didier W. Lee Elebash Thomas F. Gonzalez Steven R. Griffin Marcus A. Huff

More information

Today s Special: Specialty Leasing in the Current Retail Environment. Jenna Morley Daoust Vukovich LLP

Today s Special: Specialty Leasing in the Current Retail Environment. Jenna Morley Daoust Vukovich LLP Today s Special: Specialty Leasing in the Current Retail Environment Introduction Jenna Morley Daoust Vukovich LLP As the retail landscape continues to evolve, experiential concepts and unconventional

More information

APARTMENT LEASE AGREEMENT

APARTMENT LEASE AGREEMENT APARTMENT LEASE AGREEMENT This Apartment Lease Agreement ("Lease") is made and effective this day of, 201_ by and between Aguas Properties LLC. ("Landlord") and ("Tenant," whether one or more). This Lease

More information

By . July 17, 2008

By  . July 17, 2008 By E-mail July 17, 2008 RE: Increase in Payment and Debt Ratios for Manually Underwritten Loans; Properties Owned by Community Land Trusts; Implementation of Monthly Closing Interest Rate Calculator; Update

More information

INDUSTRIAL TENANCY AGREEMENT

INDUSTRIAL TENANCY AGREEMENT ARTICLE 1. -- BASIC TERMS INDUSTRIAL TENANCY AGREEMENT 1.1 Parties. THIS INDUSTRIAL TENANCY AGREEMENT (this "Agreement") is entered into as of the day of, 20, by and between the following Landlord and

More information

MODEL TENANT ESTOPPEL CERTIFICATE (FORM)

MODEL TENANT ESTOPPEL CERTIFICATE (FORM) Reprinted from the May 2018 issue of ALI CLE s The Practical Lawyer. MODEL TENANT ESTOPPEL CERTIFICATE (FORM) JOSHUA STEIN is founder of Joshua Stein PLLC, a boutique real estate firm in New York City.

More information

RENTAL AGREEMENT. Lot of Alpine Park Community

RENTAL AGREEMENT. Lot of Alpine Park Community PO BOX 1656 Dubuque IA 52004-1656 563.585.0592 alpineparkcommunity.com RENTAL AGREEMENT IT IS AGREED as of, by and between T-CORP, an Iowa corporation doing business as ALPINE PARK COMMUNITY MANUFACTURED

More information

GROUND LEASE. (No 5326) between. COUNTY OF SAN MATEO, as Landlord. and. METROPCS CALIFORNIA, LLC., as Tenant. For the lease of a portion of

GROUND LEASE. (No 5326) between. COUNTY OF SAN MATEO, as Landlord. and. METROPCS CALIFORNIA, LLC., as Tenant. For the lease of a portion of GROUND LEASE (No 5326) between COUNTY OF SAN MATEO, as Landlord and METROPCS CALIFORNIA, LLC., as Tenant For the lease of a portion of Flood Park 215 Bay Road Menlo Park, California Table of Contents Table

More information

Solar Leases: Deal Structures, Key Provisions and Practical Considerations

Solar Leases: Deal Structures, Key Provisions and Practical Considerations Presenting a live 90-minute webinar with interactive Q&A Solar Leases: Deal Structures, Key Provisions and Practical Considerations TUESDAY, DECEMBER 12, 2017 1pm Eastern 12pm Central 11am Mountain 10am

More information

GAINES AND ADAMS CONDOMINIUM PURCHASE AGREEMENT

GAINES AND ADAMS CONDOMINIUM PURCHASE AGREEMENT GAINES AND ADAMS CONDOMINIUM PURCHASE AGREEMENT The Landing Development Group, LLC, a Michigan limited liability company, of 640 S. Lakeshore Boulevard, Marquette, Michigan 49855, the developer, and, the

More information

CPACE Financing Overview

CPACE Financing Overview CPACE Financing Overview Commercial Property Assessed Clean Energy (CPACE) Introduction CPACE is an innovative financing tool that enables building owners to fund 100% of the cost of energy efficiency

More information