A new roof? A new elevator? If a landlord buys and hangs a giant oil painting of Donald Trump in the lobby can the landlord pass through the cost to tenants? These are just some of the important questions to ask & practical points to consider before signing an office lease.
And while the legal landscape of negotiating commercial office leases is constantly evolving, many of the same issues continue to arise for landlords & tenants. Grant & Todd will share their wisdom gleaned from years of experience in the commercial real estate market and they will mainly cover: the basic provisions of standard triple net office lease, Common Area Maintenance (CAMs) expenses & exclusions and often overlooked contractual & practical aspects of the lease. Additional subjects: SNDA Agreements (subordination, non-disturbance & attornment), BOMA (Building Owners and Managers Association) & measuring base rents, using CPI language, lease terms, tenants & flexibility, landlords & certainty, defining common areas, exclusions from Common Area costs, work letters & tenant improvements, Force Majeure clauses and issues arising out of assignment & subletting.
A partner at Duane Morris, Grant Puleo, Esq., focuses his practice on a wide variety of real estate, finance and business transactions. Todd Bulich, Esq., is the President of the Todd Bulich Real Estate Company, Inc., which exclusively represents top-tier law firms with respect to their commercial property.