The Basics of Reviewing Commercial Leases
How to Better Serve Your Tenant Clients
The current economic environment presents a unique opportunity for those seeking to lease commercial space, whether it be retail, office, industrial, warehouse or special use, i.e. restaurants, storage, garage/repair shop, etc.
While all of the above commercial leases each has its own issues, I will attempt, in the limited time available, to point out the major areas of concern that are common to all of them while mentioning specific items that may only apply to one or more, but not all. Some leases are gross rent leases but the vast majority are “Triple net” in nature, which refers to the Tenant paying not only base rent but certain enumerated costs to Landlord that include common area (or building) maintenance, real estate taxes, insurance, cost of services provided and even capital expenditures.
LCBA PRESENTATION RE BASICS OF REVIEWING COMMERCIAL LEASES AND HOW TO BETTER SERVE TENAN