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Now that we have endured more than one year of living in a pandemic, the question arises: how has it affected the manner in which commercial real estate transactions should be negotiated and documented? The negative impact on the already distressed retail and office markets is self-evident. There is little need to maintain a storefront if customers either cannot or will not shop there. The need for facetime in an office environment has proven to be over-stated. If a tenant’s business is no longer viable for reasons beyond its control, how should that circumstance be addressed in a lease?
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COVID-19 and Lease Negotiations: Early Termination Provisions
By Ann E. Ryan and Adrienne B. Koch
During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant’s space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.
A Look At What 2022 Has In Store for Commercial Real Estate
By Erik Sherman
Disaster — a seemingly closed economy, crashed supply chains, tight labor availability, and many millions out of work — turned into rising values, some hot sectors, and rising rents and increased stability by 2021. Stepping into 2022 should be a good deal less jarring. And yet, there might be changes and surprises. Here’s what experts see as coming up.
Enforcement of Obligations Imposed In SEQRA Findings Statements
By Stewart E. Sterk
When, at the culmination of environmental review under the State Environmental Quality Review Act (SEQRA), a municipality resolves to require a developer to ameliorate environmental impacts, can anyone other than the municipality itself enforce the requirement?
Making the Office a Destination: The Rise of Hospitality In Law Firms
By Anthony Davies
The law firm office cannot remain unchanged, therefore, as if frozen in time set to some date prior to the onset of pandemic, when all the terms and meaning have all changed. In fact, the office must now provide benefits or an experience the lawyers and staff cannot get at home.
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