Owner Wins
July 14, 2015
Facts: A law firm leased an entire floor in a commercial condominium building. The lease required the tenant to continuously maintain a letter of credit, and to replace that letter of credit if it was no longer valid at any point. A failure to do this would be a lease default. The lease gave the...
Feature
June 19, 2015
Technological advances that provide security and convenience for users are being made in leaps and bounds, and even the traditional commercial real estate industry is benefitting—most recently, from digital signature software. Traditional methods of executing leases and related documents...
Q & A
June 19, 2015
Q: My tenant agreed to be accountable for any ADA infraction that’s discovered in its space in the future. Could I still be on the hook for the same violation? And how can I make sure that I find out about the violation while there’s still time for me to correct it if my tenant hasn...
In the News
June 19, 2015
A new bill that would require online retailers to collect and remit state sales taxes has been introduced by U.S. Reps. Jason Chaffetz, R-Utah, and Steve Womack, R-Ark. The Remote Transactions Parity Act (H.R. 2775) follows Womack’s Marketplace Fairness Act, which passed in the Senate last...
Owner Wins
June 19, 2015
Facts: A car wash tenant signed a lease with a renewal option every five years. The tenant exercised its renewal option twice. During the second renewal period, a dispute between the tenant and owner was settled by a court. The settlement stated that the tenant could operate until the owner found a...
Owner Wins
June 19, 2015
Facts: A shopping center owner signed a lease guaranteed by the tenant’s business partners. The tenant stopped paying rent. The guarantors refused to pay. They argued that because the “landlord” was listed as a different business entity in the lease than in the guaranty, they...
Owner Wins
June 19, 2015
Facts: The owner of retail space sent a notice informing its tenant that it was in breach of the lease because it hadn’t installed a fire alarm system. The tenant refused to install a system, and the owner was fined by the city. The owner filed a petition with a court to evict the tenant. A...
Owner Wins
June 19, 2015
Facts: A retail tenant was required by its lease to get the owner’s consent for all assignments and subleases. The tenant defaulted on its lease by, among other violations, assigning without permission the lease to its separate corporate entity, which later subleased the space to a jewelry...
Feature
May 27, 2015
by Jonathan Newman, Esq.
One thing you do not like to hear when negotiating a commercial lease agreement is that the tenant must have possession of the space by some important date, known as the “drop-dead date.” Why? Because the tenant usually wants the landlord to suffer a variety of...
Drafting Tips
May 27, 2015
Commercial real estate lease assignments might seem straightforward for both office and retail space: A tenant that wishes to leave its space finds another tenant willing to take over the space and the original tenant’s lease. And, typically, the lease’s assignment clause will dictate...
