• Easy As FMV: Modern Fair Market Value Renewal Methods

    July 02, 2017 |

    This article discusses the competing interests and criteria of landlords and tenants in defining fair market value, explores various mechanisms used for resolving disputes over fair market rental rates, and concludes with proposed language that represents a healthy compromise for both sides.

  • Peer-to-Peer Networks

    August 02, 2014 |

    Peer-to-peer e-commerce platforms seem to be popping up almost daily, touching nearly every vertical ripe for disruption, or at least providing just a little grease for the wheel.

  • Subordination Without Nondisturbance

    January 26, 2011 |

    It is virtually axiomatic that when a mortgagee takes possession from a defaulting borrower-landlord, the mortgagee encounters the harsh reality of a neglected piece of real estate.

  • Tax Issues for Real Estate Leasing by Tax-Exempt Organizations

    April 28, 2010 |

    This article, the last in a four-part series, examines the issues involved when a tax-exempt organization carries or incurs debt with respect to real estate from, or to which, it receives income unrelated to its exempt purposes.

  • In the Spotlight: Commercial Tenant Considerations in a Troubled Economy

    June 23, 2009 |

    This article addresses certain terms, provisions and concerns that should be covered in a tenant's lease transaction, which will not only be important if the landlord experiences financial difficulties, but will also assist the tenant if it should confront a difficult financial situation on its own account.

  • REITs: The Challenge of Parking Facilities

    July 28, 2006 |

    The careful negotiation of the rights and responsibilities involved with the operation of parking facilities associated with commercial properties is an often-overlooked component of the acquisition and leasing of those properties. It has been noted that the inadequate resolution of the competing interests between owners, lessors, and lessees of parking facilities can harm the interested parties' businesses and ultimately drive the parties into costly and time-consuming legal battles. Stacy E. Smith, Negotiating Parking Privileges in Commercial Leases: What Every Tenant Should Know. Com. Leasing L. & Strategy, July 2005, at 1. Unfortunately, the presence of a real estate investment trust ('REIT') among the concerned parties adds an additional layer of complexity to an already challenging situation.

  • Protecting Against the Possibility of Catastrophic Events: Careful Consideration of Force Majeure Clauses in Commercial Leases

    May 30, 2006 |

    When commercial landlords and tenants negotiate commercial lease agreements, the normal focus of their efforts is the essential conditions of the tenancy ' rent amount, lease term, option periods, and the like. Often overlooked, however, are those provisions generally considered 'standard boilerplate.' Force majeure clauses, in particular, are frequently viewed as miscellaneous paragraphs not worthy of lengthy consideration or discussion. Unfortunately, the pitfalls of a failure to carefully negotiate the force majeure provision of a commercial lease are often realized when a true catastrophic event occurs. In such situations, the tenant may be least able to withstand any additional hardship and needs the protection that a well-drafted force majeure provision can afford. At the same time, owners of commercial real estate that have suffered through the recent catastrophic and tragic events such as the terrorist attacks of 9/11 and hurricanes Katrina and Rita unquestionably have learned all too well that the force majeure clauses of their leases may be the only means of ensuring invaluable protections if or when a catastrophic event does occur.