Lease of Commercial Real Estate
The legal relationship between landlords and tenants in commercial leases are not subject to the same legal oversight as residential leases. Therefore, the terms of the lease can vary widely and the ramifications of these variations can be significant. Maselli Warren, P.C. attorneys have negotiated hundreds of commercial leases on behalf of both landlords and tenants. We understand that most landlords and tenants view their leases as almost entirely about the payment of rent and that once signed, many leases will never see the light of day unless and until something goes wrong. With that in mind, we strive to ensure that when that day comes, the lease amply protects our client with an appropriate amount of “lawyering” in a lease given the transaction.
For Landlords, we:
- Analyze existing or prepare new “master leases”
- Review and negotiate brokerage agreements
- Respond to requests from tenants for revisions to the “master lease,” for assignment approval, or for subordination.
- Enforce the landlord’s rights against defaulting tenants
- Provide lease abstracting services
For Tenants, we:
- Determine whether the personal liability of the owners under the terms of the lease can be limited
- Address issues of responsibility for maintenance or liability beyond the tenant’s control
- Address any provisions that may interfere with the tenant’s ability to sell its business
- Confirm that the terms of the lease match our client’s understanding and expectation
- Address restrictions on the tenant’s ability to assign the lease
- Discuss whether the lease is tied to a minimum vacancy threshold and/or the continued co-tenancy of an anchor tenant
- Discuss whether the landlord may lease to other tenants engaged in a competitive business
- Enforce the rights of tenants against landlords who have defaulted in the terms of the lease.
- Provide lease abstracting services.