Leasing Illustrated

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.
Jun
01
2018
Although most commercial leases do not include a specific landlord default provision, recently we have seen a number of leases which provide long notice and cure rights for landlord defaults. As written, some even require tenants to waive valuable enforcement remedies. In today's issue, we provide seven suggestions for commercial tenants when addressing landlord default provisions.
May
01
2018
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.