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We understand that leasing plays a critical role in commercial real estate. For the owner, strong leases with good tenants can mean the difference between success and failure. For the user, rental costs often are a business’ largest fixed expense, and the flexibility and fairness of the lease can tremendously affect not only the success of the business, but also the tenant’s ability to adjust to changing market conditions. Our leasing practice includes representation of institutional asset managers, developers, lenders, law firms, retail tenants, colleges, hotels, restaurants, non-profit associations, and businesses ranging from large corporations to small retail operations. The firm represents the owners of numerous office buildings and retail projects on all of their leasing matters.
Tenant Work. Some of our highest profile work in leasing is from the tenant’s perspective. A number of large corporations turn to us for representation when they lease space and sites for their operations. Because of our extensive work in this area, we are acquainted with most major participants in the leasing industry. When representing a tenant, we pay particular attention to operating cost pass-throughs, market rent provisions, tax issues and other matters that affect the client’s occupancy costs. We also help businesses obtain rights to expand, reduce the size of their leased space or otherwise adjust the lease terms to react to the demands of their businesses.
Landlord Work. On an ongoing basis, we represent clients who own and manage properties for lease. We have streamlined leasing procedures for landlords who require adherence to their forms for a particular project or type of lease. This standardization relieves our clients from much of the burden and cost of lease negotiation and administration. In representing landlords, we often develop a form lease tailored to each client’s specific real estate, whether it is a multi-use development and shopping mall, a first-class office building, or a retail shopping center.
Leases within Larger Developments. Our work frequently involves leases of a portion of a larger development. These arrangements often include segregation of a portion of a large complex from the remainder and often require the negotiation and documentation of extensive provisions regarding shared access, maintenance and utilities and the joint use of various amenities and services.
Leasing Litigation and Dispute Resolution. As an adjunct to our work representing landlords and tenants in various leasing transactions, we negotiate resolutions to conflicts that arise between tenants and landlords, or landlords and lenders. We attempt wherever possible to find non-litigious solutions to business problems. Where such a resolution is not possible, our litigation attorneys have significant experience in litigating in state and federal courts all types of leasing disputes, ranging from common area maintenance claims, lease audits, enforcement actions and evictions to construction-related build-out disputes. We have successfully handled such litigation for public company owners of corporate real estate, office developers and owners, national shopping center owners and developers, pension funds, retailers and lenders.
Our leasing group lawyers have a collective experience that exceeds 100 years of law practice and several thousand lease transactions. Our attorneys have extensive experience with retail, office, and industrial leasing. Similarly, we are deeply familiar with ground (land) leases and have structured numerous transactions by utilizing ground leases in instances where outright sales are not feasible or preferable.
We assist in the day-to-day management of shopping centers and office buildings by reviewing and preparing brokerage and management agreements, lease buy-outs, assignments, subleases and lease amendments.
Leasing issues arise in numerous contexts and our professionals are ready to assist in all of them. We assist clients involved in mergers and acquisitions and in lease assumptions. We work with economic development colleagues to assure that the benefits of the lease and the incentives package are maximized.
Our primary areas of practice include the following: