Negotiating and Drafting Commercial Leases

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This book reviews the clauses of a typical complex modern lease in detail, with explanation and commentary, examining the legal, economic, and financial accounting ramifications.
“The first treatise that a leasing pro will refer to for explanation of new and difficult issues as well as a refresher on issues that have not recently been encountered.”
James S. Saunders, Esq., Senior Managing Director, Newmark Knight Frank

“[An] extraordinary treatise.... The real value of this book is in its practical evaluation of lease provisions, the motivations of the parties, and the reasonable (and unreasonable) positions that parties to a lease often take.”
Prof. Daniel Bogart, Chapman University School of Law,
and Prof. Celeste Hammond, John Marshall School of Law,
in Commercial Leasing: A Transactional Primer

Negotiating and Drafting Office Leases, now called Negotiating and Drafting Commercial Leases, offers a practical road map through the entire leasing negotiation process. It reviews the clauses of a typical complex modern lease in detail, with explanation and commentary, examining the legal, economic and financial accounting ramifications.

Compared to recent years, there are very few commercial property owners, developers, design professionals, lenders, tenants and landlords that are NOT utilizing sustainable designs and materials.

The NEW Release 46 for Negotiating and Drafting Commercial Leases includes a complete revision of the green leasing materials to reflect this industry shift. Included is everything you need to know about the numerous motivations for building green; the current green leasing certification requirements; and many sample provisions for drafting green leases, including sustainability clauses, operating expenses, and alterations.

This Release also provides coverage of a number of trends impacting office leasing, including:

·        Virtual reality vs. augmented reality, and how these technologies are used in leasing, as well as their impact on real estate deals

·        Pop up leasing and how these short-term leases should be structured for the landlord and the tenant

·        Implications for office leases of the legalization of marijuana, including tenant compliance with state law and federal guidelines; potential for nuisance to other tenants; and additional landlord requirements in such leases

·        Expectation that there will continue to be greater implementation of cryptocurrencies through blockchain to drive efficiencies through digitization and create more accurate records of ownership that update in real time

Negotiating and Drafting Commercial Leases also covers:

  • Negotiating strategies and styles

  • Pitfalls created by other agreements entered into by the parties to a lease

  • Repairs and maintenance

  • Assignments and subleases

  • Environmental compliance and due diligence

  • Electricity and utilities costs and issues

  • The "Porter's Wage" escalation provision

  • Tenant monitoring of landlord's escalation calculations

  • Guarantors and security deposits

  • Proving the existence of a lease when the original document is lost

  • Quiet enjoyment

  • Expansion space

  • Bankruptcy

  • Work letters

  • Restrictive causes

  • Renewals and options

  • Financing development through participation leases

  • Synthetic leases

  • Brokerage

  • Lease audits...and more!

This invaluable primer comes with 150 forms, including:  landlord/tenant checklists of typical and atypical lease provisions; a sample tenant's proposal letter; work letter materials; a sample asbestos removal clause; good guy clauses; and other samples that will help beginners and experts, alike, involved in commercial real estate transactions. For your convenience, these forms are now available through our interactive, online platform in place of the CD-ROM. If you have any questions, please contact our customer service team at 1-807-8076 or ljpsales@lawjournalpress.com.


Book #00624; looseleaf, two volumes, 3,190 pages; access to our interactive, online platform published in 1995, updated as needed; no additional charge for updates during your subscription. Looseleaf print subscribers receive supplements. The online edition is updated automatically.ISBN: 978-1-58852-061-6

Additional Information
SKU 624ONL
Division Name Law Journal Press
Volumes 2
Product Types Books
Brand Law Journal Press
Jurisdiction National
ISBN 978-1-58852-061-6
Page Count 2406
Edition 0
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Alan M. Di Sciullo
Alan M. Di Sciullo, Esq. is the Director of Global Real Estate at Shearman ; Sterling LLP and Professor of Real Estate at New York University's Masters Program at the Schack Institute of Real Estate. He has been a Senior Vice President and First Vice President at a major global bank and investment bank where he handled leasing and corporate real estate transactions. He has served as Chair of the ABA's Office Leasing Committee and other leasing committees. He was elected as a fellow to the American College of Real Estate (ACREL) lawyers. He received his JD and undergraduate degrees from Georgetown University and MBA from New York University. Mr. Di Sciullo is AV rated by Martindale-Hubbell.
John Busey Wood
John Busey Wood, Esq. is a Partner in the New York City office of Akerman Senterfitt LLP. He is a member of the American Arbitration Association Commercial Neutral Panel and a Fellow of the American Bar Association Foundation. Mr. Wood has authored a number of books and publications including Navigating the Dangerous Shoals of a Commercial Lease and chairs the Practicing Law Institute Commercial Leasing Panel Programs nationally for over a decade. Mr. Wood counsels international and US based retail tenants and corporate property owners and lessees on cost reduction and safe leasing. The Wall Street Journal called him The Father of the Modern Killer Lease Form and the New York Times noted that he negotiated the largest ground lease of its kind ever in New York City. Mr. Wood received his MBA in accounting from the University of Kansas and is AV rated by Martindale-Hubbell. He is also a certified Public Accountant.
CHAPTER 1
Office Lease Fundamentals

§ 1.01 Evolution of the Modern Office Lease—Emergence of the “Killer Lease”
[1] The Past and Today
[2] Looking to the Future—Trends Impacting Office Leasing
§ 1.02 What Is a Lease?
[1] Lease vs. License
[2] Necessity of a Writing
[3] Elements Required for Enforceability
[4] Can Electronic Communications Satisfy the Writing Requirement Under the Statute of Frauds?
[5] Uniform Standards Toward a Fair Lease
§ 1.03 Life of the Lease
[1] Signing vs. Execution
[2] Contract Interval Before Possession
[3] Cancellation of the Lease
[4] Conditional Demising
§ 1.04 Office Lease Provisions
[1] In General
[2] Checklist of Lease Provisions
[3] Omission of Terms
§ 1.05 Drafting and Analysis Basics
[1] Interpreting Definition Pyramids
[2] Following Lease Time Lines
[3] Precision Drafting
[4] Value of Lease Forms for Landlord and Tenant
[5] Long Range Planning
§ 1.06 Summary

CHAPTER 2
Who Is the Landlord and Who Is the Tenant?

§ 2.01 Who Has Authority to Sign the Lease?
§ 2.02 Who Is the Landlord?
[1] In General
[2] Ground Leases
[3] Landlord as Assemblage Owner
[4] Partnership or Corporation as Landlord
§ 2.03 Who Is the Tenant?
§ 2.04 Limitations on Landlord’s Authority
§ 2.05 Title Insurance
[1] The Importance of Conducting a Title Search
[2] Title Insurance Coverage
§ 2.06 Covenant and Representation of Authority of Tenant
§ 2.07 Summary

CHAPTER 3
The Leased Premises

§ 3.01 Space Selection
§ 3.01A Description of Demised Premises
§ 3.02 Measurement Standards
[1] In General
[2] International Property Measurement Standards for Office Buildings
§ 3.03 Space Maintenance and Repair Obligations
§ 3.04 Compliance and Safety
[1] Compliance with Laws
[2] Building Safety
§ 3.05 Tenant Relocation
[1] Timing
[2] Nature of Substituted Premises
[3] Landlord’s Payment Obligations
[4] No Additional Costs for the Tenant
[5] Tenant’s Right to Terminate
§ 3.06 Office Leases in Retail Space
§ 3.07 Summary

CHAPTER 4
The Lease Terms

§ 4.01 Commencement of the Lease Terms
[1] Dating the Lease
[2] Possession for Occupancy Terms
[3] Demising Term
[4] Rental Term
§ 4.02 Abatements

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