Leasing Illustrated

Mar
22
2019
Every tenant worries about its space being delivered on time. That is probably true in all instances, but particularly if the landlord is doing a turnkey buildout, if there is an existing tenant in the space and/or if the tenant is occupying its current space under an expiring lease and fears potential holdover charges. One way for a tenant to address a landlord's failure to timely deliver its premises is to require additional abatement on a day for day basis for each day of delay. In today's issue, we provide six suggestions regarding the imposition of additional abatement as liquidated damages.
Feb
22
2019
Every tenant needs the ability to sublet or assign its space in order to have an effective exit strategy. When the time comes to exercise that right, most tenants will retain a commercial leasing broker, and the commission payable will vary depending on whether the tenant is entering into a sublease or assignment, negotiating a buyout with its landlord, or undergoing a recapture of the premises as contemplated by its lease. In today's issue, we focus on six suggestions regarding the calculation of such commission. In today's issue, we focus on six issues to consider when negotiating a sub-sublease as either the sub-sublandlord or the sub-subtenant.
Jan
25
2019
Tenants need to protect themselves from non-performing landlords and lease provisions providing for abatement and/or self-help can go a long way in this regard. But sometimes the conditions in the premises are so bad that the tenant is "constructively evicted" and must vacate. In today's issue, we focus on six issues to consider regarding constructive eviction. In today's issue, we focus on six issues to consider when negotiating a sub-sublease as either the sub-sublandlord or the sub-subtenant.
Jan
04
2019
The same as any tenant, a subtenant needs the exit strategy that comes with an ability to further sublease. And notwithstanding the proliferation of the flexible workspace/shared office market, there is an available source of businesses willing to sub-sublease from a subtenant to meet its short-term needs. In today's issue, we focus on six issues to consider when negotiating a sub-sublease as either the sub-sublandlord or the sub-subtenant.
Nov
30
2018
In many industries, the ability to bring dogs and other pets to the office has become a priority amenity. It is easy to see how this can lead to conflict between landlords trying to regulate pet behavior and tenants looking for pet-friendly flexibility. In today's issue, we provide eight issues for commercial tenants to address when negotiating a pet rider or pet lease provision.
Oct
26
2018
Although sadly nothing in life is free, commercial leases often include "free rent", i.e., a rent abatement provision. This tenant incentive is an important part of the financial package that may be provided to commercial tenants and how it is structured can have financial implications for a tenant's lease. In today's issue, we provide six suggestions for commercial tenants when negotiating a rent abatement.
Sep
24
2018
Tenants are obligated under their leases through the expiration date. If a tenant has outgrown its space or needs to downsize, it is often left with subleasing as its only exit option. But sometimes an opportunity can arise to surrender a problem lease prior to the stated expiration date and be a win-win for both tenant and landlord. In today's issue, we provide eleven suggestions for commercial tenants when negotiating a lease surrender agreement.
Aug
24
2018
Tenants are sometimes afforded the exclusive right to operate a particular business. Although more common in shopping centers where the tenant mix is important for all parties, the issue can arise in street level leases and even office leases. In today's issue, we provide six suggestions for commercial tenants when negotiating an exclusive use provision.
Jul
20
2018
Vive la France and congrats to Les Bleus on winning the World Cup, said to be the most widely viewed and followed sporting event in the world, surpassing the Olympics, and perhaps even an April afternoon game between my NY Mets and the Miami Marlins. With no national team in the hunt, Americans have been rising early and bleary eyed for morning breakfast and “futball” without a clear rooting interest.
Jul
01
2018
A tenant entering into a long term lease of ten or fifteen years does not have a crystal ball to assess its future space needs and there are countless reasons why a termination right can prove beneficial. The tenant may outgrow its current space and prefer to end its obligation rather than become a sublandlord. Alternatively, the tenant’s business may shrink and it may need to downsize.