Downward Economy = Increase in Leasing Opportunity
As the economy took a downward turn last year, there were a few areas of legal representation that seemed to take an upward swing. One of these areas, seemingly on the increase in my most recent experience, is commercial leasing. The reasons for this upward turn could be many, however certainly it is at least in part due to the fact that purchase money is less available through commercial lenders. Many potential commercial operators simply do not have the ability to purchase, and as business closings increased, available sites also increased, and owners of commercial properties became more receptive to lease as an alternative to sale. Because of this increase in commercial leasing, I thought it would be good to review some of the provisions contained in typical commercial leases. The types of things that clients seem to always ask questions about. Over the next two or three weeks I will be posting to this blog five separate articles about leasing. I expect that the following five areas of leasing will be explained and discussed:
1. Subrogation
2. Tenant security deposits
3. Options to purchase and rights of first refusal
4. Assignment and sublease
5. Casualty and insurance
Feel free to let me know if you would like me to cover any other commercial leasing topics in this blog.
Thanks,
Tom Grella
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