Feature

Get Control Over Content in 'Short-Form Lease'

October 18, 2018

If you own a shopping center or office building and have financial difficulties, you may be dealing with one, or even several, liens filed against the property. A savvy tenant knows that if it doesn’t have priority if you become bankrupt, it could be dramatically affected, up to and including...

Related Tools: Minimize Risk in Memorandum of Lease

Plugging Loopholes

Spell Out Right to Keep Unapproved Sublet Profits

October 18, 2018

When you negotiate a lease with a tenant, you and your attorney try to cover all your bases—drafting provisions that protect you in every conceivable circumstance under which the tenant would breach the lease during the lease term. However, one situation isn’t as common as other types...

Owner Wins

Lease Agreement Foreclosed Tenant’s Ability to Collect Condemnation Award

October 18, 2018

Facts: A large national retailer leased space in a shopping center that later had a major access point blocked by the state’s department of transportation as part of a “condemnation.” The landlord and tenant each asked the state for a “condemnation award.” The lease...

Feature

Prevent Detrimental Effects of Large National Tenant's Use Change

September 26, 2018

Owners who lease space to large national retail tenants know that their demands can be hard to resist. Use of the space is the number one concern for these tenants. Often, they ask for flexibility in their use of the space that puts owners at a disadvantage. A lease that allows a tenant to use the...

Related Tools: Secure Right to Terminate Large Tenant's Lease for Use Change

Drafting Tips

Use 'First-Run' Language in Movie Theater's Use Clause

September 26, 2018

If you own a shopping center or mall, you know that the success of your tenants is connected to the amount of foot traffic that you can bring in. Movie theaters are a great example of one type of tenant that attracts crowds. But not all movie theaters show films that are of interest to a wide...

Q & A

Protecting Against Lost Rent for Tenant's Changed Circumstances

September 26, 2018

Q: I own a mixed-use building that has retail stores on the ground floor and residential units on the floors above. The ground floor is specifically zoned for retail use. Should I factor in the potential for zoning changes in my leases, and if so, how? A: Yes. Zoning laws, which are subject to...

Owner Wins

Landlord's Promise to "Work on" Renewal Wasn’t Fraudulent Inducement

September 26, 2018

Facts: A tenant rented space to operate its nail salon under a lease that was assigned to it by the original tenant. The lease provided for two additional five-year terms. In order to exercise a renewal option, the tenant had to give written notice 120 days prior to the end of the term stating that...

In the News

Post Office Could Be Sent Packing After Eviction Suit

September 26, 2018

An eviction suit filed against the U.S. Postal Service could speed up ambitious plans for redeveloping a huge downtown Milwaukee building. The owner is trying to evict its only tenant, which holds a lease that could extend until 2040. The owner filed a lawsuit in Milwaukee County Circuit Court...

Feature

Draft Favorable Work Letter Terms Before Construction Begins

August 30, 2018

Many tenants need to customize the space they lease, whether it’s in an office building or shopping center. But altering space—even for simple improvements—can be complicated. So when signing leases, you’ll want to have a work letter agreement—a contract that...

Related Tools: Spell Out Work Letter Terms for Renovation

Drafting Tips

Draft Narrow Termination Provision to Keep Tenant from Exiting Deal

August 30, 2018

If you own office building or retail space you’re probably very reluctant to give a termination right to your tenants in their leases. You run the risk of losing a large amount of money; allowing a tenant to get out of its lease early can render costly improvements and other expensive items...

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