Leasing Illustrated

May
01
2018
Swing Space Poses excerpt: Swing space is alternate, temporary space which can allow a tenant to solve a short-term space and timing problem and allow its landlord to close a deal that might have otherwise been lost. In today's issue, we provide ten suggestions for commercial tenants when addressing swing space in a lease or license.
Apr
01
2018
New York State has over the years developed a handy equitable safety net for commercial tenants, allowing the filing of an action for a declaratory judgment and a "Yellowstone" injunction that stays the time to effect a cure of a lease default. A recent case, however, has upheld a landlord's right to effectively require a tenant to waive its right to obtain such an injunction and this raises the possibility that future commercial leases in New York State will include such waivers. In today's issue, we provide three suggestions when presented with a lease which requires that a tenant waive its right to file a Yellowstone injunction.
Mar
01
2018
Most leases allow tenants to transfer their lease without landlord consent in the event of a bona fide corporate transaction (e.g., a merger or sale). But the language of many lease assignment and subletting provisions can be ambiguous in this regard, causing a headache for those involved in such transactions. In today's issue, we provide five suggestions when reviewing a lease portfolio to determine assignability.
Feb
01
2018
Some lease disputes require quick resolution and, in those instances, running to court may not be a helpful option for a tenant. Expedited arbitration affords tenants a speedier option to resolve disputes. In today's issue, we provide eleven suggestions to protect tenants when preparing an expedited arbitration provision.
Jan
01
2018
Subleases sometimes include the right of subtenants to use the existing fixtures, furniture and equipment in the subleased space. The tenant/sublandlord moving on to other space may be purchasing all new FF&E and the older existing FF&E may fit the needs of the incoming subtenant, so if properly structured it can be a win-win for both parties.
Dec
01
2017
Subleases sometimes include the right of subtenants to use the existing fixtures, furniture and equipment in the subleased space. The tenant/sublandlord moving on to other space may be purchasing all new FF&E and the older existing FF&E may fit the needs of the incoming subtenant, so if properly structured it can be a win-win for both parties.
Nov
01
2017
I recently read that Frances Gabe, one of the country's more eccentric inventors, and creator of the self-cleaning house, passed away at the age of 101. Yes, you heard that right, a self-cleaning house. I could use a self-cleaning desk, let alone an entire house.
Oct
01
2017
Subleases are peculiar animals and the determination of whether or not to incorporate specific overlease provisions into a sublease is often open to interpretation. In today's issue, we focus on the service provisions of a sublease (e.g., the right to receive HVAC, electricity, cleaning, and similar services) and suggest ways to address the inclusion or exclusion of these provisions in a sublease.
Sep
01
2017
My son Adam is in law school, showing that he clearly does not learn from the experience of others.
Aug
01
2017
Leasing Illustrated receives more reader input for any G.O.T. themed edition than all our other issues combined. It must be that all that deceit, gore and back stabbing (and, of course, dragons) makes commercial leasing participants feel right at home.