At the beginning of negotiations, when you ask yourself the broad question of what rights you can put into the lease to protect yourself if your tenant defaults, “self-help” should come to mind as one of the remedies you can rely on. Most standard commercial leases include a “...
Competing with other nearby centers to draw in customers can be tough. You’re in a much better position if you have high-profile tenants that make your center a destination for customers looking for these particular stores. But no matter what type of center you own, you’ll want to...
It’s crucial that your tenants are adequately insured. To make sure of this, your leases may list by name the insurance coverage that the tenants must get and maintain. If you think you’re covering all your bases by writing this into the lease in such a specific way, you could...
Q: I lease property to a wide variety of tenants, and I have leases that are technical and complicated. If a term or terms in one of these leases turned out to be illegal, what effect would it have on the rest of the agreement?
In some good news for New York City commercial real estate, an overwhelming majority of survey participants have changed their outlook on the fate of Lower Manhattan real estate post-Hurricane Sandy. Of more than 100 executives surveyed by accounting firm Marks Paneth & Shron LLP, only 6...
Most leases contain an assignment clause that requires tenants to get your consent before they may assign their leases. But some leases contain a loophole that risks giving the tenant too broad a right and being forced later to rent space to a tenant that isn’t appropriate for your...
Q: I’m vigilant about making sure that the office building I recently bought is compliant with the federal Americans with Disabilities Act (ADA), but it can be expensive to do this. How can I pass some of the costs through to tenants?...
The findings from a recent CIT Group Inc. survey may make 2014 a little brighter for the CRE industry. That’s because middle-market commercial real estate executives are expressing cautious optimism toward the market and are looking to take advantage of long-term investment opportunities,...
If your lease’s assignment clause is like most, it requires the tenant to get your written consent before it may assign its lease. But unless that consent includes certain conditions, you risk giving the tenant too broad a right and being forced later to rent space to a tenant that isn...
Q: During last year’s holiday shopping season, a long-standing tenant at my center put up a large holiday display that wasn’t in keeping with the appearance of the center’s aesthetic. Its lease, which was entered into before...
Governor Andrew Cuomo has announced that New York State is increasing its support for Steiner Studios’ media campus project in north Brooklyn, bringing its total financial assistance to $11.3 million. The contributions will enable the largest film company outside of Hollywood to finance...
If you’re not careful when drafting your lease with a tenant that wants to customize its space with a large-scale installation, you could be left footing the bill for removing it after the tenant moves out. But there is a leasing strategy you can use to make your space more marketable and...
