Monday, February 18, 2019, 2:30-3:30pm
Office and retail space leases are complex and lengthy instruments.
The recent aftermath of the real estate crisis have also highlighted the risks and costs of poorly drafted leases for both landlords and tenants.
Economic provisions need to reflect changes over time, including rent escalators for landlords, but also flexibility for the tenant to return or sublease space it can no longer use.
There are subtle tradeoffs among exclusivity rights in retail leases, rents and the term of the lease. Common area maintenance expenses, whether in an office building or retail center, are also fertile sources of cost estimate overruns and disagreements.
This program provides a practical guide to negotiating and drafting real office and retail space.
Part 1 topics include:
- Drafting and reviewing office and retail space leases in a strong real estate market
- Letters of intent and term sheets – necessary inclusions, permissible exclusions
- Detailed review of major provisions and key negotiating points of office and retail leases
- Underlying economics of leases, including rent escalators over time, cost containment and recovery
- Marketing, subletting space and its complications
- Building services, including telecommunications and data bandwidth issues
Click on the "In Depth" tab for tuition and speaker information.