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Most commercial leases are forged by a deliberate, organic process that includes face-to-face meetings, telephone calls and written correspondence between the landlord, the tenant and their respective agents, culminating in a written contract that historically was required to be signed by hand by both parties. Over the past 20 years, the rise of email as a generally-accepted medium of business communication has prompted the law to allow certain contracts, including leases, to be entered into electronically, without a handwritten signature. Progress has been made in this respect, both by statute and the common law; however, tweaking a centuries-old legal axiom takes time. This article addresses recent developments and the present state of the law with respect to commercial leasing and electronic media.
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It’s a Tenant’s Market: How to Negotiate and Navigate the Leasing Process
By Sandra D. Buchko
A hybrid workforce has meant that office and retail space is in plentiful supply. These high vacancy rates have caused landlord defaults to be on the rise, making it a tenant-friendly environment for leasing space and obtaining tenant-favorable lease terms. Here is a step-by-step tutorial on how to negotiate the best lease terms and navigate the leasing process while saving money on rent, tenant buildout and operating expenses.
Notice of Pendency In Commercial Real Estate Transactions
By Adrienne B. Koch
Parties to real estate transactions may be tempted to conclude that a notice of pendency will be available in most instances to protect their rights if things go awry. But while the CPLR’s description of actions in which a notice of pendency is permitted sounds both clear-cut and extremely broad, in practice it is neither of those things.
Holding Water: Water Terms Used Within the Commercial Property Policy
By Christine G. Barlow
Water issues are often confusing and involve multiple undefined terms such as plumbing, sewer, drain, overflow, or discharge. This article reviews how the terms are applied in the commercial property policy.
Issues and Ramifications of Leasing to Cannabis Providers
By Brian Peykar
The legalization of cannabis in New Jersey has created tremendous economic opportunities for commercial and industrial property owners. Aside from the potential financial benefits, property owners should approach this newer market in a cautious manner before embarking on leasing to cannabis retailers and/or growers given the multitude of issues and concerns surrounding the cannabis industry.
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