transcript   Transcript

Commercial Leases: Dealing with Large Hidden “Big Ticket” Items

Recorded on: Mar. 5, 2018
Running Time: 00:58:25

Full Transcript:



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Taken from the Web Program Negotiating Commercial Leases 2018 held March 2018 in New York

Commercial Leases: Dealing with Large Hidden “Big Ticket” Items [00:58:24]

  • Triggered violations from deferred but enacted laws on filing of plans and demolition
  • Costs included in CAM and operating expenses/capital disbursements – Landlord build to suit but no cash and "under supervision" – how to protect the “turnkey”
  • Negotiating "Work/TI" funding/completion rights with the lender for "recognition of landlord's work abatements and credits" – Future “delivery space” TI funding
  • Current failure to analyze and assure the "Attached Sketch" – compliance, use, repair obligations and "the missing terrace!" . . . the added building systems!”
  • Sprinklers, electric meters and VAV boxes – analyzing landlord’s “base building” inclusions
  • Mock negotiation

The purchase price of this Web Program segment includes the following articles from the Course Handbook available online:

  • The Metropolitan Corporate Counsel, Theft by Lease: Electricity Consumption Or Fiction—Or How To Make More Money For The Landlord Without Really Trying (February 1997)
    John Busey Wood
  • Audit Rights and Operating Expenses: Protecting Both the Landlord and the Tenant—Proper Inclusions and Exclusions—Doing the Gross-Up Correctly
    Michael E. Meyer
  • Substandard Service Specifications/Costs
    John Busey Wood
  • Hidden Operating Costs from Rentable Re-Measurements
    John Busey Wood
  • Hidden Commencement Date Costs
    John Busey Wood

Presentation Material

  • Transaction Timeline: Relocation to an Existing Building
    Joseph Fabrizi, Kelly Merino
(s)
Joseph Fabrizi ~ Executive Vice President, CBRE, Inc.
Meyer Last ~ Fried Frank Harris Shriver & Jacobson LLP
Kelly Merino ~ Director, CBRE, Inc.
Michael E. Meyer ~ DLA Piper LLP (US)
Ruth A. Schoenmeyer ~ Pircher, Nichols & Meeks LLP
John Busey Wood ~ Akerman LLP
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