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In the Spotlight: Executing Leases Faster and Cheaper

By Anthony Casareale

Although this topic has been covered pre-recession, faced with today's challenging economic environment, it is timely to revisit ways to streamline lease negotiation and execution.

When a landlord and prospective or current tenant reach agreement on the major business terms, typically in a non-binding letter of intent, the leasing “process” begins. At that point, landlords, their representatives and the brokers involved, want to finalize and sign leases as quickly as possible, while minimizing legal costs. In order to achieve this objective, landlords, their counsel and broker representatives should evaluate how their leasing “process” can be improved.

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