Publisher's Synopsis
"The first treatise that a leasing pro will refer to for explanation of new and difficult issues as well as a refresher on issues that have not recently been encountered." —James S. Saunders, Esq., Senior Managing Director, Newmark Knight Frank"[An] extraordinary treatise.... The real value of this book is in its practical evaluation of lease provisions, the motivations of the parties, and the reasonable (and unreasonable) positions that parties to a lease often take." —Prof. Daniel Bogart, Chapman University School of Law, and Prof. Celeste Hammond, John Marshall School of Law, in Commercial Leasing: A Transactional PrimerNegotiating and Drafting Office Leases, now called Negotiating and Drafting Commercial Leases, offers a practical road map through the entire leasing negotiation process. It reviews the clauses of a typical complex modern lease in detail, with explanation and commentary, examining the legal, economic and financial accounting ramifications. Compared to recent years, there are very few commercial property owners, developers, design professionals, lenders, tenants and landlords that are NOT utilizing sustainable designs and materials. The NEW Release 46 for Negotiating and Drafting Commercial Leases includes a complete revision of the green leasing materials to reflect this industry shift. Included is everything you need to know about the numerous motivations for building green; the current green leasing certification requirements; and many sample provisions for drafting green leases, including sustainability clauses, operating expenses, and alterations. This Release also provides coverage of a number of trends impacting office leasing, including: Virtual reality vs. augmented reality, and how these technologies are used in leasing, as well as their impact on real estate dealsPop up leasing and how these short-term leases should be structured for the landlord and the tenantImplications for office leases of the legalization of marijuana, including tenant compliance with state law and federal guidelines; potential for nuisance to other tenants; and additional landlord requirements in such leasesExpectation that there will continue to be greater implementation of cryptocurrencies through blockchain to drive efficiencies through digitization and create more accurate records of ownership that update in real timeNegotiating and Drafting Commercial Leases also covers: Negotiating strategies and stylesPitfalls created by other agreements entered into by the parties to a leaseRepairs and maintenanceAssignments and subleasesEnvironmental compliance and due diligenceElectricity and utilities costs and issuesThe "Porter's Wage" escalation provisionTenant monitoring of landlord's escalation calculationsGuarantors and security depositsProving the existence of a lease when the original document is lostQuiet enjoymentExpansion spaceBankruptcyWork lettersRestrictive causesRenewals and optionsFinancing development through participation leasesSynthetic leasesBrokerageLease audits...and more! This invaluable primer comes with 150 forms, including: landlord/tenant checklists of typical and atypical lease provisions; a sample tenant's proposal letter; work letter materials; a sample asbestos removal clause; good guy clauses; and other samples that will help beginners and experts, alike, involved in commercial real estate transactions. For your convenience, these forms are now available through our interactive, online platform in place of the CD-ROM. If you have any questions, please contact our customer service team at 1-807-8076 or [email protected]. Book #00624; looseleaf, two volumes, 3,190 pages; access to our interactive, online platform published in 1995, updated as needed; no additional charge for updates during your subscription. Looseleaf print subscribers receive supplements. The online edition is updated automatically.ISBN: 978-1-58852-061-6.
